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 $30$Line Item DescriptionAmountAmountSales $(4,700$ units$)$$$70,500$Cost of goods sold:$$Cost of goods manufactured $(5,405$ units$)$$$59,455$Inventory$,$ April $30(705$ units$)(7,755)$Total cost of goods sold$(51,700)$Gross profit$$$$18,800$Selling and administrative expenses$(12,010)$Operating income$$$$6,790$

If the fixed manufacturing costs were $$15,458\mathrm{.}3$ and the fixed selling and administrative expenses were $$5,880,$ prepare an income statement according to the variable costing concept. Round all final answers to whole dollars.

Joplin Company

Variable Costing Income Statement

For the Month Ended April $30$Line Item DescriptionAmountAmount

Contribution marginInventoryManufacturing marginSalesVariable cost of goods manufactured

$$-$ Select $-$Variable cost of goods sold:

Contribution marginFixed manufacturing costsVariable cost of goods manufacturedVariable cost of goods soldVariable selling and administrative expenses

$$-$ Select $-$

Fixed manufacturing costsFixed selling and administrative expensesInventory, April $30$Manufacturing marginSales

$-$ Select $-$

InventorySalesTotal variable cost of goods manufacturedTotal variable cost of goods soldTotal variable selling and administrative expenses

$-$ Select $-$

Contribution marginFixed manufacturing costsInventoryManufacturing marginSales

$$-$ Select $-$

Manufacturing marginSalesVariable cost of goods manufacturedVariable cost of goods soldVariable selling and administrative expenses

$-$ Select $-$

Contribution marginFixed selling and administrative expensesInventoryManufacturing marginSales

$$-$ Select $-$Fixed costs:

Fixed inventoryFixed manufacturing costsVariable cost of goods manufacturedVariable cost of goods soldVariable selling and administrative expenses

$$-$ Select $-$

Fixed inventoryFixed salesFixed selling and administrative expensesVariable cost of goods soldVariable selling and administrative expenses

$-$ Select $-$

Contribution marginManufacturing marginOperating incomeSalesTotal fixed costs

$-$ Select $-$

Operating incomeLoss from operations

$$-$ Select $-$