On April 3 0 , the end of the first month of operations, Joplin Company prepared the
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Question:
On April the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept:
Joplin Company
Absorption Costing Income Statement
For the Month Ended April
Sales units $
Cost of goods sold:
Cost of goods manufactured units $
Inventory, April units
Total cost of goods sold
Gross profit $
Selling and administrative expenses
Operating income $
If the fixed manufacturing costs were $ and the fixed selling and administrative expenses were $ prepare an income statement according to the variable costing concept. Round all final answers to whole dollars.
Joplin Company
Variable Costing Income Statement
For the Month Ended April
Sales
$Sales
Variable cost of goods sold:
Variable cost of goods manufactured
$Variable cost of goods manufactured
Inventory, April
Inventory, April
Total variable cost of goods sold
Total variable cost of goods sold
Manufacturing margin
$Manufacturing margin
Variable selling and administrative expenses
Variable selling and administrative expenses
Contribution margin
$Contribution margin
Fixed costs:
Fixed manufacturing costs
$Fixed manufacturing costs
Fixed selling and administrative expenses
Fixed selling and administrative expenses
Total fixed costs
Total fixed costs
Operating income
Related Book For
Forensic And Investigative Accounting
ISBN: 9780808056300
10th Edition
Authors: G. Stevenson Smith D. Larry Crumbley, Edmund D. Fenton
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