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 (6,600 units) $158,400 Cost of goods sold: Cost of goods manufactured (7,700 units) $130,900 Inventory, April 30 (1,100 units) (18,700) Total cost of goods sold (112,200) Gross profit $46,200 Selling and administrative expenses (27,660) Operating income $18,540 If the fixed manufacturing costs were $32,725 and the fixed selling and administrative expenses were $13,550, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. Joplin Company Variable Costing Income Statement For the Month Ended April 30 Sales $Sales 158,400 Variable cost of goods sold: Variable cost of goods manufactured $Variable cost of goods manufactured Inventory, April 30 Inventory, April 30 Total variable cost of goods sold Total variable cost of goods sold Manufacturing margin $Manufacturing margin Variable selling and administrative expenses Variable selling and administrative expenses Contribution margin $Contribution margin Fixed costs: Fixed manufacturing costs $Fixed manufacturing costs 32,725 Fixed selling and administrative expenses Fixed selling and administrative expenses 13,550 Total fixed costs Total fixed costs 46,275 Operating income $Operating income 25