ncome statements under absorption costing and variable costing Instructions Labels and Amount Descriptions Instructions Joplin industries Inc manufactures and sells high-quality sporting goods equipment under its highly recognizable J-Sports logo. The company began operations on May 1 and operated at 100% of capacity (82,000 units) during the first month, creating an ending inventory of 8,000 units. During June, the company produced 74,800 garments during the month but sold 82,800 units at $102 per unit. The June manufacturing costs and selling and administrative expenses were as follows: Instructions Number of Units Unit Cost Total Cost Manufacturing costs in June 1 beginning inventory Variable 8,000 $52 $ 416,000 Fixed 8,000 OD 64,000 Total $60 $480,000 Manufacturing costs in June Variable 74,800 $52 $3,889,600 Fixed 74,800 10 748,000 Total $62 $4,637,600 Selling and administrative expenses in June Income statements under absorption costing and variable costing Labels and Amount Descriptions Instructions Variable 74,800 $52 $ 3,889,600 Fixed 74,800 10 748,000 Total $62 $4,637,600 Selling and administrative expenses in June: Variable 82,800 $16 $ 1,324,800 Fixed 82,800 6 496,800 Total $22 $1,821,600 Absorption Costing Income Statement Joplin Industries Inc. Score: 0766 Absorption Costing Income Statement (Label) 1 7 Cost of goods sold: 3 5 6 7 8 Sh Absorption Costing Income Statement Variable Costing Income Statement Question not attempted. Shi Joplin Industries Inc. Score: 0788 Variable Costing Income Statement (Label) 3 5 6 (Label) 7 8 Instructions Labels and Amount Descriptions Absorption Costing Income Statement Variable Costing Income Statement 3 4 5 6 (Label) 7 8 9 10 RP