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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 (3,300 units)			$56,100
Cost of goods sold:
Cost of goods manufactured (3,800 units)	$45,600
Inventory, November 30 (500 units)	(6,000)
Total cost of goods sold			39,600
Gross profit			$16,500
Selling and administrative expenses			9,250
Income from operations			$7,250

Assume the fixed manufacturing costs were $9,576 and the fixed selling and administrative expenses were $4,530.

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 marginInventory, Manufacturing margin, Sales, Variable cost of goods manufactured,or Variable selling and administrative expenses)		$- Select -
Variable cost of goods sold:
(Contribution marginInventory, Manufacturing margin, Sales, Variable cost of goods manufactured,or Variable selling and administrative expenses)
(Fixed manufacturing costs, Inventory, November 30, Fixed selling and administrative expenses, Manufacturing margin, or Sales)	- -
(Inventory, Sales, Total variable cost of goods manufactured, Total variable cost of goods sold, or Total variable selling and administrative expenses)		- -
(Contribution margin, Fixed manufacturing costs, Inventory, Manufacturing margin, or Sales)		$- Select -
(Manufacturing marginSalesVariable cost of goods manufacturedVariable cost of goods sold, or Variable selling and administrative expenses)		- Select -
(Contribution margin, Fixed selling and administrative expenses, Inventory, Manufacturing margin, or Sales)		$- Select -
Fixed costs:
(Fixed manufacturing costs, Fixed inventory, Variable cost of goods manufactured, Variable cost of goods sold, or Variable selling and administrative expenses)	$- Select -
(Fixed selling and administrative expenses, Fixed inventory, Fixed sales, Variable cost of goods sold, or Variable selling and administrative expenses)	- Select -
(Contribution margin, Income from margin, Sales, or Total fixed costs)		- Select -
(Income from operations, or Loss from operations)		$- Select -