Cost of Goods Manufactured, using Variable and Absorption Costing On June 30, the end of the first year of operations, Johnson Industries, Inc., manufactured 4,700 units and sold 4,000 units. The following income statement was prepared, based on the variable costing concept: Johnson Industries, Inc. Variable Costing Income Statement For the Year Ended June 30, 2015 Sales $1,960,000 Variable cost of goods sold: Variable cost of goods manufactured $1,104,500 Less inventory, June 30 164,500 Variable cost of goods sold 940,000 Manufacturing margin $1,020,000 Variable selling and administrative expenses 236,000 Contribution margin $784,000 Fixed costs Fixed manufacturing costs $507,600 Fixed selling and administrative expenses 156,000 663,600 $120,400 Income from operations Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept. Variable costing Absorption costing