On November 30 , the end of the first month of operations, Weatherford Company prepared the following income statement, based on the absorption costing concept: dollar. Labels Fixed costs For the Month Ended November 30 November 30 Amount Descriptions Contribution margin Contribution margin ratio Fixed manufacturing costs Fixed selling and administrative expenses Gross profit Income from operations Inventory, November 30 Loss from operations Manufacturing margin Planned contribution margin Sales Sales mix Total fixed costs Total variable cost of goods sold Variable cost of goods manufactured Variable cost of goods sold Variable selling and administrative expenses