Principles of Managerial Accounting - Spring 23 wwork: Ch. 4 Homework in list Question 6, EM4A-53 (similar to) Part 1 of 3 Jonathan Schoof 02/27/23 10:39 PM HW Score: 35.08%, 7.02 of 20 points O Points: 0 of 3 Save In May, VitaSport produced 20,000 cases of powdered drink mix and sold 23,000 cases, of which 3,000 were produced in April. The total April production was 15,000. The sales price was $24, Kvariable coals were $12 per case (59 manufacturing and $3 selling and administrative), and total fixed costs were $85,000 ($60,000 manufacturing and $25,000 selling and administrative) VitaSport's May income statement using variable costing follows: (Click the icon to view the variable costing income statement) on 1. Read the requirements on 2 on 3 Requirement 1. Prepare the May income statement using absorption costing VitaSport Income Statement (Absorption Costing) Month Ended May 311 On 41 Net Sales Revenue Cost of Goods Sold: Fixed Cost of Goods Sold Cin 5 on Variable Cost of Goods Sold Gross Prof Variable Selling and Administrative Costs Fixed Saling and Administrative Costs Variable Selling and Administrative Costs Operating Income 207.000 Reference VitaSport Income Statement (Variable Costing) Month Ended May 31 Net Sales Revenue 552,000 Variable Costs Variable Manufacturing Overhead Variable Selling and Administrative Costs Contribution Margin Fixed Cost $ 552,000 $ 207.000 00,000 270,000 276,000 Faxed Manufacturing Overhead 60,000 Fixed Selling and Administrative Costs 25.000 85,000 191,000 Operating Income Print Done