In May 2018, Limonade produced 10,000 cases of powdered drink mix and sold 13,000 cases, of which 3,000 were produced in April. The sales price was $28, variable costs were $14 per case ($10 manufacturing and $4 selling and administrative), and total fixed costs were $75,000 ($60,000 manufacturing and $15,000 selling and administrative). Read the requirements. Requirement 1. Prepare the May income statement using variable costing. Limonade Income Statement (Variable Costing) Month Ended May 31, 2018 Net Sales Revenue Variable Costs: Variable Manufacturing Costs Variable Selling and Administrative Costs Contribution Margin Fixed Costs: Fixed Manufacturing Costs Fixed Selling and Administrative Costs Operating Income