On June 30, the end of the first month of operations, Volker Energy Company prepared the following income statement, based on the absorption costing concept: volkar energy company absorption costing income statement for the month ended june 30, 2011 sales (4800) units ...............................$134400 cost of good sold : cost of good sold manufactured (5600) units ..............$ 112000 less inventory June 30, (800) units .................. 16000 ___________________ cost of good sold .................................................... $ 96000 _______________ gross profit .............................................................. $ 38400 selling and administration expenses .............................$22550 ___________________ income from operation $ 15850 If the fixed manufacturing costs were $25,200 and the variable selling and administrative expenses were $11,400, prepare an income statement according to the variable costing concept. Enter all amounts as positive numbers. VOLKER ENERGY COMPANY Variable Costing Income Statement For the Month Ended June 30, 2011 Sales ________ Variable cost of goods sold: _________ Variable cost of goods manufactured _____________ Less inventory, June 30 _______________ Variable cost of goods sold _____________ Manufacturing margin ______________ Variable selling and administrative expenses ____________ Contribution margin _______________ Fixed costs: ________________ Fixed manufacturing costs _____________ Fixed selling and administrative expenses ________________ Income from operations