On June 30, 2016, the end of the first month of operations, Tudor Manufacturing Co. prepared the following income statement, based on the variable costing concept 1 Sales (425,000 units) Variable cost of goods sold: Tudor Manufacturing Co. Income Statement - Variable Costin For the Month Ended June 30, 2016 $7.535,000.00 3 Variable cost of goods manufactured (530,000 units - $14 per unit) $7.420,000.00 Less ending inventory (105,000 units $14 per unit) 1,470,000.00 Variable cost of goods sold Manufacturing margin 7 Variable selling and administrative expenses Contribution margin Fixed costs: 5,950,000.00 $1,585,000.00 91.000.00 $1,494,000.00 10 Fixed manufacturing costs $148,400.00 11 Fixed selling and administrative expenses 72,000.00 220,400.00 12 Income from operations $1.273.600.00