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 (4,700 units) $136,300

Cost of goods sold: Cost of goods manufactured (5,500 units) $115,500

Inventory, April 30 (800 units) (16,800)

Total cost of goods sold (98,700)

Gross profit $37,600

Selling and administrative expenses (23,930)

Operating income $13,670

If the fixed manufacturing costs were $31,185, and the fixed selling and administrative expenses were $11,720, 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 =136,300

Variable cost of goods sold: Variable cost of goods manufactured =84,315

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