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 (6,100 units) Cost of goods sold: Cost of goods manufactured (7,200 units) Inventory, April 30 (1,000 units) Total cost of goods sold Gross profit Selling and administrative expenses Operating income $189,100 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 Fixed manufacturing costs x Variable selling and administrative expenses Contribution margin $ Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income