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 (3,500 units) $129,500 Cost of goods sold: Cost of goods manufactured (4,100 units) $106,600 Inventory, April 30 (600 units) (15,600) Total cost of goods sold (91,000) Gross profit $38,500 Selling and administrative expenses (23,480) Operating income $15,020 If the fixed manufacturing costs were $28,782 and the fixed selling and administrative expenses were $11,500, 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 $ 129,500 Variable cost of goods sold: Variable cost of goods manufactured $ 77,818 Inventory, April 30 Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses 23,480 X Contribution margin Fixed costs: Fixed manufacturing costs $ 28,782 Fixed selling and administrative expenses 11,500Total fixed costs 40,282 Operating income