Sullivan Equipment Company Variable Costing Income Statement For the Month Ended March 31 $10,500,000.00 $3,220,000.00 (420,000.00) 4 5 1 Sales (70,000 units) 2 Variable cost of goods sold: 3 Variable cost of goods manufactured Inventory, March 31 (10,500 units) Total variable cost of goods sold 6 Manufacturing margin 7 Variable selling and administrative expenses 8 Contribution margin 9 Fixed costs: 10 Fixed manufacturing costs 11 Fixed selling and administrative expenses 192,800,000.00 $7,700,000.00 2,205,000.00 $5,495,000.00 $840,000.00 489,500.00 12 1,329,500.00 Total fixed costs 13 Income from operations $4,165,500.00 Labels For the Month Ended March 31 March 31 Amount Descriptions Contribution margin Cost of goods manufactured Cost of goods sold Fixed manufacturing costs Fixed selling and administrative expenses Gross profit Income from operations Inventory, March 31 Loss from operations Manufacturing margin Sales Selling and administrative expenses Total cost of goods sold Variable cost of goods manufactured Variable cost of goods sold Variable selling and administrative expenses Score: 48/72 Sullivan Equipment Company Absorption Costing Income Statement For the Month Ended March 31 $10,500,000.00 1 Sales wa 4 2 Cost of goods sold 3 Cost of goods manufactured Inventory, March 31 5 Total cost of goods sold Gross profit 1 Selling and administrative expenses 1 Income from operations