On April 30, the end of the first month of operations, Joplin Company prepared the following...

 

Transcribed Image Text:

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 (5,700 units) $136,800 Cost of goods sold: Cost of goods manufactured (6,500 units) $110,500 Inventory, April 30 (900 units) (15,300) Total cost of goods sold (95,200) $41,600 (25,070) $16,530 Gross profit Selling and administrative expenses Operating income If the fixed manufacturing costs were $29,835 and the fixed selling and administrative expenses were $12,280, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. 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 (5,700 units) $136,800 Cost of goods sold: Cost of goods manufactured (6,500 units) $110,500 Inventory, April 30 (900 units) (15,300) Total cost of goods sold (95,200) $41,600 (25,070) $16,530 Gross profit Selling and administrative expenses Operating income If the fixed manufacturing costs were $29,835 and the fixed selling and administrative expenses were $12,280, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars.