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$

$(9,100)$

$\backslash$table$[[$$$27,600$