Weatherford Company Absorption Costing Income Statement For the Month Ended November 30 Sales (104,000 units) $5,200,000 Cost of goods sold: Cost of goods manufactured (120,000 units) $4,560,000 Inventory, November 30 (16,000 units) (608,000) Total cost of goods sold 3,952,000 Gross profit $1,248,000 Selling and administrative expenses 400,000 Income from operations $848,000 Assume the fixed manufacturing costs were $960,000 and the fixed selling and administrative expenses were $2 Prepare an income statement according to the variable costing concept. Weatherford Company Variable Costing Income Statement For the Month Ended November 30 Variable cost of goods sold: Fixed costs: ODI 00