During the first month of operations ended May 31, 2014, Dorm Fridge Company manufactured 9,500 microwaves, of which 8,800 were sold. Operating data for the month are summarized as follows:

Sales		$1,188,000
Manufacturing costs:
Direct materials	$598,500
Direct labor	180,500
Variable manufacturing cost	152,000
Fixed manufacturing cost	76,000	1,007,000
Selling and administrative expenses:
Variable	$96,800
Fixed	44,500	141,300

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Create a variable costing income statement

Debit Credit

Sales 1,188,000

Variable Cost of Goods Sold:

Variable cost of goods manufactured ________

Less inventory, May 31 __________

Variable cost of goods sold __________

Manufactures margin ___________

Variable selling and admin expense ___________

Contribution margin ___________

Fixed costs:

Fixed manufacturing costs 76,000

Fixed selling and admin expenses 44,500 120,500

Income from operations ___________