Cost of Goods Manufactured, using Variable Costing and Absorption Costing On March 31, the end of the first year of operations, Barnard Inc., manufactured 5 300 units and sold 4,600 units. The following income statement was prepared, based on the variable costing concept Barnard Inc. Variable Costing Income Statement For the Year Ended March 31, 2011 Sales $2,070,000 Variable cost of goods sold Vartable cost of goods manufactured $1,146,800 Inventory, March 31 (151,200) Total variable cost of goods sold (993,600) Manufacturing margin 51,076,400 Total variable selling and administrative expenses (240.400) Contribution margin 5828,000 Fixed costs 5524,700 Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs 165,600 (690,100) $137,700 Operating income Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept Barnard Inc. Variable Costing Income Statement For the Year Ended March 31, 2011 Sales 52,070,000 Variable cost of goods sold: Variable cost of goods manufactured $1,144,800 Inventory, March 31 (151,200) Total variable cost of goods sold (993,600) Manufacturing margin 51,076,400 Total variable selling and administrative expenses (240,400) Contribution margin $120.000 Fixed costs Fixed manufacturing costs 5524,700 Fixed selling and administrative expenses 165,600 Total fixed costs (600, 300) Operating income $137,700 Determine the unit cost of goods manufactured, based on () the variable costing concept and (b) the absorption costing concept Variable costing Absorption costing