Instructions On December 31, the end of the first year of operations, Frankenreiter Inc. manufactured 25,600 units and sold 24,000 units. The following income statement was prepared, based on the variable costing concept: ankenreiter Inc Variable Costing Income Statement For the Year Ended December 31, 2016 S9,600,000.00 2 Variable cost of goods sold: $5.376.000.00 Variable cost of goods manufactured 4 Less ending inventory 50000000 s variable cost of goods sold 6 Manufacturing margin S4,560,000.00 1,150,000.00 7 Variable selling and administrative expenses 8 Contribution margin S3,110,000.00 9 Fixed costs: lo Fixed manufacturing costs 51.664.000.00 890,00000 2,554,000.00 u Fixed selling and administrative expenses $856.000.00 12 Income from operations