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Variable Costing Income Statement On April 3 0 , the end of the first month of operations, Joplin Company prepared the following income statement, based

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 units)
Cost of goods sold:
Cost of goods manufactured (5,300 units)
Inventory, April 30(700 units)
Total cost of goods sold
Gross profit
Selling and administrative expenses
Operating income
$87,400
$68,900
(9,100)
\table[[$27,600
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