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 (4,600 units)			$174,800
Cost of goods sold:
Cost of goods manufactured (5,200 units)	$140,400
Inventory, April 30 (700 units)	(18,900)
Total cost of goods sold			(121,500)
Gross profit			$53,300
Selling and administrative expenses			(31,610)
Operating income			$21,690

If the fixed manufacturing costs were $36,504 and the fixed selling and administrative expenses were $15,480, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars.

If the fixed manufacturing costs were $36,504 and the fixed selling and administrative expenses were $15,480, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars