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On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: If
On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: If the fixed manufacturing costs were $16,380 and the fixed selling and administrative expenses were $6,940, 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 Variable cost of goods sold: Inventory, April 30 Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contributionmargin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses
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