Cost of Goods Manufactured, using Variable Costing and Absorption Costing On December 31, the end of the first year of operations, Frankenreiter Inc., manufactured 5,300 units and sold 4,600 units. The following income statement was prepared, based on the variable costing concept: Frankenreiter Inc. Variable Costing Income Statement For the Year Ended December 31, 2011 Sales $2,300,000 Variable cost of goods sold: Variable cost of goods mantectured $1,272,000 Inventory, December 31 (168,000) Total variable cost of goods sold 1,104,000 Manufacturing margin $1,196,000 Total variable selling and administrative expenses 276,000 Contribution margin $920,000 Fixed costs: Fixed manufacturing costs $583,000 Fixed selling and administrative expenses 184,000 Total fixed costs 767,000 Income from operations $153,000 Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept Variable costing Absorption costing Want Previous Next A saved Sum m ent for Grad