Cost of Goods Manufactured, using Variable Costing and Absorption Costing On March 31, the end of the first year of operations, Barnard Inc., manufactured 4,700 units and sold 4,000 units. The following income statement was prepared, based on the variable costing concept: Barnard Inc. Variable Costing Income Sta*ement For the Year Ended March 31, 2011 Sales $800,000 $451,200 (67,200) Variable cost of goods sold: Variable cost of goods manufactured Inventory, March 31 Total variable cost of goods sold Manufacturing margin Total variable selling and administrative expenses Contribution margin (384,000) $416,000 (96,000) $320,000 Fixed costs: $206,800 Fixed manufacturing costs Fixed selling and administrative expenses 64,000 Total fixed costs (270,800) Operating income $49,200 Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) Barnard Inc. Variable Costing Income Statement For the Year Ended March 31, 2011 Sales $800,000 Variable cost of goods sold: $451,200 (67,200) (384,000) $416,000 Variable cost of goods manufactured Inventory, March 31 Total variable cost of goods sold Manufacturing margin Total variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses (96,000) $320,000 $206,800 64,000 Total fixed costs (270,800) Operating income $49,200 Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept. Variable costing Absorption costing