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 (5,000 units)			$170,000
Cost of goods sold:
Cost of goods manufactured (5,800 units)	$139,200
Inventory, November 30 (800 units)	(19,200)
Total cost of goods sold			120,000
Gross profit			$50,000
Selling and administrative expenses			30,690
Income from operations			$19,310

Assume the fixed manufacturing costs were $37,584 and the fixed selling and administrative expenses were $15,030.

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

Contribution marginInventoryManufacturing marginSalesVariable cost of goods manufacturedVariable selling and administrative expenses		$- Select -
Variable cost of goods sold:
Contribution marginFixed manufacturing costsVariable cost of goods manufacturedVariable cost of goods soldVariable selling and administrative expenses	$- Select -
Fixed manufacturing costsInventory, November 30Fixed selling and administrative expensesManufacturing marginSales	- Select -
InventorySalesTotal variable cost of goods manufacturedTotal variable cost of goods soldTotal variable selling and administrative expenses		- Select -
Contribution marginFixed manufacturing costsInventoryManufacturing marginSales		$- Select -
Manufacturing marginSalesVariable cost of goods manufacturedVariable cost of goods soldVariable selling and administrative expenses		- Select -
Contribution marginFixed selling and administrative expensesInventoryManufacturing marginSales		$- Select -
Fixed costs:
Fixed manufacturing costsFixed inventoryVariable cost of goods manufacturedVariable cost of goods soldVariable selling and administrative expenses	$- Select -
Fixed selling and administrative expensesFixed inventoryFixed salesVariable cost of goods soldVariable selling and administrative expenses	- Select -
Contribution marginIncome from operationsManufacturing marginSalesTotal fixed costs		- Select -
Income from operationsLoss from operations