On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales (275,000 units).. Cost of goods sold: Cost of goods manufactured (300,000 units) Inventory, April 30 (25,000 units).. Total cost of goods sold.. Gross profit...... Selling and administrative expenses Operating income. Details $4,050,000 (337,500) $ 4,950,000 (3,712,500) $ 1,237,500 (275,000) $ 962,500 If the fixed manufacturing costs were $450,000 and the fixed selling and administrative expenses were $165,000, prepare an income statement according to the variable costing concept.

On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: Details If the fixed manufacturing costs were $450,000 and the fixed selling and administrative expenses were $165,000, prepare an income statement according to the variable costing concept