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 (3,800 units) $140,600 Cost of goods sold: Cost of goods manufactured (4,400 units) $114,400 Inventory, November 30 (600 units) (15,600) Total cost of goods sold 98,800 Gross profit $41,800 Selling and administrative expenses 23,280 Income from operations $18,520 Assume the fixed manufacturing costs were $24,024 and the fixed selling and administrative expenses were $11,400. 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 Sales 140,600 Variable cost of goods sold: Variable cost of goods manufactured 90,376 15,600 X Inventory, November 30 Chapter 6 HW Sales Variable cost of goods sold: Variable cost of goods manufactured Inventory, November 30 Fixed costs: 101 90,376 15,600 X 140,600