Variable Costing Income Statement

On April $30,$ the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept:

Joplin Company

Absorption Costing Income Statement

For the Month Ended April $30$

Sales $(275,000$ units$)$

Cost of goods sold:

$\backslash$table$[[$Cost of goods manufactured units$),$$$4,050,000,],[$Inventory$,$ April $30(25,000$ units$),(337,500),],[$Total cost of goods sold,,$(3,712,500)$