must use labels provided in correct spot

On October 31, the end of the first month of operations, Morristown & Co. prepared the following income statement based on absorption costing Morristown & Co. Absorption Costing Income Statement For the Month Ended October 31 $117.000.00 Sales (2.600 units) Cost of goods sold: Cost of goods manufactured $85.500.00 (11,400.00) Ending inventory (400 units) Total cost of goods sold Gross profit Selling and administrative expenses (74.100.00) $42.900.00 6 21.500.00) $240000 Operating income If the fired manufacturing costs were $42.900 and the variable selling and administrative expenses were $4600 Required: Prepare an income statement using variable costing. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries Be sure to complete the statement heading. A colon () will automatically appear if it is required Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example. Nel loss should be negative Expenses should be positive. Labels and Amount Descriptions Labels Fixed costs For the Month Ended October 31 Amount Descriptions Contribution margin Ending inventory Fixed manufacturing costs Fixed selling and administrative expenses Manufacturing margin Operating income Sales Total fixed costs Total variable cost of goods sold Variable cost of goods manufactured Variable selling and administrative expenses Morristown & Co. Variable Costing Income Statement (Label) Variable cost of goods sold