enow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker =\&takeAssignmentSessionLocator =& inprogress=false eBook Show Me How Variable Costing Income Statement On April 30 , 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 30 Sales (2,500 units) Cost of goods sold: Cost of goods manufactured ( 2,900 units) Inventory April 30 (400 units) Total cost of goods sold Gross profit Selling and administrative expenses Operating income $37,500 $31,900 (4,400) $10,000(27,500)(5,880)$4,120 Joplin Company Variable Costing Income Statement For the Month Ended April 30 Sales Variable cost of goods sold: Variable cost of goods manufactured v Inventory, April 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 v Total fixed costs operating income Feedback T Gheck My Work Check My Work