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Variable Costing Income Statement On November 30, the end of the first month of operations, Weatherford Company prepared the following income statement, based on
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: Sales (5,800 units) Weatherford Company Absorption Costing Income Statement For the Month Ended November 30 $214,600 Cost of goods sold: Cost of goods manufactured (6,700 units) Inventory, November 30 (900 units) $174,200 (23,400) Total cost of goods sold 150,800 Gross profit $63,800 Selling and administrative expenses 36,670 Income from operations $27,130 Assume the fixed manufacturing costs were $40,066 and the fixed selling and administrative expenses were $17,960. Prepare an income statement according to the variable costing concept. Round all final answers to whole dollars.
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