Variable Costing Income Statement On November 30, the end of the first month of Weatherford Co ared the following income statement, based on the absorption costi Weatherford Company Absorption Costing Income Statement For the Month Ended November 30 Sales (2,500 units) $75,000 Cost of goods sold: Cost of goods manufactured (3,000 units) $63,000 Inventory, November 30 (400 units) Total cost of goods sold Gross profit Selling and administrative expenses Income from operations Assume the fixed manufacturing costs were $16,380 and the fixed selling and administrative expenses were $6,310 Prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. (8,400) 54,600 $20,400 12,880 $7,520 Weatherford Company Variable Costing Income Statement For the Month Ended November 30 Sales Variable cost of goods sold Variable cost of goods manufactured Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative Total fixed costs Income from operations