Variable Costing Income Statement

On November 30, the end of the first month of operations, Weatherford Company prepared the following income statement, based on the absorption costing concept:

Weatherford Company Absorption Costing Income Statement For the Month Ended November 30
Sales (4,800 units)			$148,800
Cost of goods sold:
Cost of goods manufactured (5,500 units)	$121,000
Inventory, November 30 (800 units)	(17,600)
Total cost of goods sold			103,400
Gross profit			$45,400
Selling and administrative expenses			25,380
Income from operations			$20,020

Assume the fixed manufacturing costs were $26,620 and the fixed selling and administrative expenses were $12,430.

Prepare an income statement according to the variable costing concept. Round all final answers to whole dollars.

Weatherford Company
Variable Costing Income Statement
For the Month Ended November 30
		$
Variable cost of goods sold:
	$
		$
		$
Fixed costs:
	$
		$