On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept:r

 If the fixed manufacturing costs were $11,340 and the fixed selling and administrative expenses were $5,590, prepare an income statement according to the variable costing concept.r 

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Sales (2,600 units) Cost of goods sold: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Cost of goods manufactured (3,000 units) Inventory, April 30 (400 units) Total cost of goods sold Gross profit Selling and administrative expenses Operating income $54,000 (7,200) $57,600 (46,800) $20,800 (11,410) $9,390 Sales (2,600 units) Cost of goods sold: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Cost of goods manufactured (3,000 units) Inventory, April 30 (400 units) Total cost of goods sold Gross profit Selling and administrative expenses Operating income $54,000 (7,200) $57,600 (46,800) $20,800 (11,410) $9,390

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Joplin Company Variable costing Income Statement For the month Ended April 30 Particulars Amount Amo... View the full answer