Question: Trevor Company reports the variable costing income statement below for June. The company began the month with no finished goods inventory. It produced 10,600 units

Trevor Company reports the variable costing income statement below for June. The company began the month with no finished goods inventory. It produced 10,600 units in June, and 2,300 units remain in ending finished goods inventory. $ 332,000 $ 239,000 38,000 Sales (8,300 units) Variable expenses Variable cost of goods sold Variable selling and administrative expenses Contribution margin Fixed expenses Fixed overhead Fixed selling and administrative expenses Income 277,000 55,000 6,360 13,900 20,260 $ 34,740 Prepare an income statement using absorption costing. TREVOR COMPANY Income Statement (Absorption Costing) Sales Cost of goods sold Gross profit Selling and administrative expenses Income 0 0
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