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 (6,000 units) $186,000 Cost of goods sold: Cost of goods manufactured (7,000 units) $154,000 Inventory, November 30 (1,000 units) (22,000) Total cost of goods sold 132,000 Gross profit $54,000 Selling and administrative expenses 31,910 Income from operations $22,090 Assume the fixed manufacturing costs were $36,960 and the fixed selling and administrative expenses were $15,630. 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 $ 186,000 Variable cost of goods sold: Variable cost of goods manufactured $ 117,040 Inventory, November 30 Total variable cost of goods sold Manufacturing margin $ Variable selling and administrative expenses Contribution margin $ Fixed costs: Fixed manufacturing costs $ Fixed selling and administrative expenses Total fixed costs Income from operations $