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On October 31, the end of the first month of operations, Maryville Equipment Company prepared the following income statement, based on the variable costing concept:

On October 31, the end of the first month of operations, Maryville Equipment Company prepared the following income statement, based on the variable costing concept:

Maryville Equipment Company Variable Costing Income Statement For the Month Ended October 31
Sales (11,500 units) $598,000
Variable cost of goods sold:
Variable cost of goods manufactured $285,600
Inventory, October 31 (2,100 units) (44,100)
Total variable cost of goods sold (241,500)
Manufacturing margin $356,500
Variable selling and administrative expenses (161,000)
Contribution margin $195,500
Fixed costs:
Fixed manufacturing costs $54,400
Fixed selling and administrative expenses 46,000
Total fixed costs (100,400)
Operating income $95,100

Prepare an income statement under absorption costing. Round all final answers to whole dollars.

Maryville Equipment Company
Absorption Costing Income Statement
For the Month Ended October 31
$fill in the blank 2
Cost of goods sold:
$fill in the blank 4
fill in the blank 6
fill in the blank 8
$fill in the blank 10
fill in the blank 12
$fill in the blank 14

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