{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T03:05:58-04:00", "answer_date": "2024-05-26 03:05:58", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1721454", "url": "\/study-help\/questions\/variable-costing-income-statement-on-april-30-the-end-of-1721454", "question_creation_date_js": "2024-05-26T03:05:58-04:00", "question_creation_date": "May 26, 2024 03:05 AM", "meta_title": "[Solved] Variable Costing Income Statement On Apri | SolutionInn", "meta_description": "Answer of - Variable Costing Income Statement On April 30, the end of the first month of operations, Joplin Company prepared the f | SolutionInn", "meta_keywords": "variable,costing,income,statement,april,30,end,first,month,operations,joplin,company", "question_title_h1": " Variable Costing Income Statement On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on", "question_title": " Variable Costing Income Statement On April 30, the end of the", "question_title_for_js_snippet": "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 (5,100 units) $117,300 Cost of goods sold Cost of goods manufactured (5,800 units) $92,800 Inventory, April 30 (800 units) (12,800) Total cost of goods sold (80,000) Gross profit $37,300 Selling and administrative expenses (20,440) Operating income $16,860 If the fixed manufacturing costs were $20,416 and the fixed selling and administrative expenses were $10,010, 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 30 112 300 Joplin Company Variable Costing Income Statement For the Month Ended April 30 Sales Variable cost of goods sold Variable cost of goods manufactured Inventory, April 30 Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income Feedback 117,300 nprogressetanse OO", "question_description": "\"image\"image", "transcribed_text": "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 (5,100 units) $117,300 Cost of goods sold: Cost of goods manufactured (5,800 units) $92,800 Inventory, April 30 (800 units) (12,800) Total cost of goods sold (80,000) Gross profit $37,300 Selling and administrative expenses (20,440) Operating income $16,860 If the fixed manufacturing costs were $20,416 and the fixed selling and administrative expenses were $10,010, 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 30 112.300 Joplin Company Variable Costing Income Statement For the Month Ended April 30 Sales Variable cost of goods sold: Variable cost of goods manufactured Inventory, April 30 Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income Feedback 117,300 nprogressetanse OO", "related_book": { "title": "Cost Accounting Foundations and Evolutions", "isbn": "9781439044612, 1439044619, 978-1111626822", "edition": "8th Edition", "authors": "Michael R. Kinney, Cecily A. Raiborn", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/146.jpg", "uri": "\/textbooks\/cost-accounting-foundations-and-evolutions-8th-edition-146", "see_more_uri": "" }, "free_related_book": { "isbn": "0072994711", "uri": "\/textbooks\/computer-accounting-with-quickbooks-pro-2005-7th-edition-9780072994711", "name": "Computer Accounting With QuickBooks Pro 2005", "edition": "7th Edition" }, "question_posted": "2024-05-26 03:05:58", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/environmental-economics\/are-the-statements-in-a-and-b-below-saying-the-1281344", "description": "Are the statements in (a) and (b) below saying the same thing? (Hint: think about the tradeoffs between concerns of intra- and intergenerational equity.) 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