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 (6,600 units) $204,600 Cost of goods sold: Cost of goods manufactured (7,700 units)$169,400 Inventory, April 30 (1,100 units)(24,200) Total cost of goods sold (145,200) Gross profit $59,400 Selling and administrative expenses (33,480) Operating income $25,920

If the fixed manufacturing costs were $35,574 and the fixed selling and administrative expenses were $16,400, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars.

Joplin Company Variable Costing Income Statement For the Month Ended April 30

Sales $Sales 204,600 Variable cost of goods sold:

Variable cost of goods manufactured $Variable cost of goods manufactured 133,826

Inventory, April 30 Inventory, April 30

Total variable cost of goods sold Total variable cost of goods sold

Manufacturing margin $Manufacturing margin

Variable selling and administrative expenses Variable selling and administrative expenses 17,080

Contribution margin $Contribution margin Fixed costs:

Fixed manufacturing costs $Fixed manufacturing costs 35,574

Fixed selling and administrative expenses Fixed selling and administrative expenses 16,400

Total fixed costs Total fixed costs 51,974

Operating income $Operating income