On June 30, 2016, the end of the first month of operations, Tudor Manufacturing Co. prepared the following income statement, based on the variabl concept 1 Sales (405,000 units) Tudor Manufacturing Co. Income Statement - Variable Costing For the Month ended June 30, 316 $6,385,000.00 2 Variable cost of goods sold: 3 Variable cost of goods manufactured (500,000 units x $12 per unit) $6,000,000.00 4 Less ending inventory (95,000 units $12 per unit) 1,140,000.00 4.860,000.00 5 Variable cost of goods sold $1,525,000.00 6 Manufacturing margin 7 Variable selling and administrative expenses 8 Contribution margin 9 Fixed costs: 88,000.00 $1,437,000.00 10 Fixed manufacturing costs $140,000.00 11 Fixed selling and administrative expenses 68,000.00 208,000.00 $1,229,000.00 12 Income from operations My Work P