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 (5,200 units) $83,200 Cost of goods sold: Cost of goods manufactured (5,900 units) $64,900 Inventory, April 30 (800 units) (8,800) Total cost of goods sold (56,100) Gross profit $27,100 Selling and administrative expenses (14,900) Operating income $12,200 If the fixed manufacturing costs were $14,927 and the fixed selling and administrative expenses were $7,300, prepare an income statement according to the variable costing concept. Round Joplin Company Variable Costing Income Statement For the Month Ended April 30 Variable cost of goods sold: 0000 Fixed costs: Feedback Check My Work Sales - (Variable Cost of Goods Manufactured* - Variable Costing Ending inventory**) = Manufacturing Margin; Manufacturing Margin - Variable Selling and Administrative Expenses = Co *Variable Cost of Goods Manufactured = Total Cost of Goods Manufactured - Fixed Manufacturing Cost **Variable Costing Ending Inventory = (Variable Cost of Goods Manufactured/Total Units of Goods Manufactured) x Absorption Costing Ending Inventory Units (given) Check My Work