Question: Variable Costing Income Statement The following data were adapted from a recent income statement of The Procter & Gamble Company (PG): Sales Operating costs: Cost

Variable Costing Income Statement The following data were adapted from a recent income statement of The Procter & Gamble Company (PG): Sales Operating costs: Cost of products sold (in millions) $303,620 $(145,740) Marketing, administrative, and other expenses (97,160) Total operating costs $(242,900) $60,720 Operating income Assume that the variable amount of each category of operating costs is as follows: Cost of products sold Marketing, administrative, and other expenses (in millions) $81,980 39,470 a. Based on the data given, prepare a variable costing income statement for Procter & Gamble, assuming that the company maintained constant inventory levels during the period. The Procter & Gamble Company Variable Costing Income Statement (assumed) (in millions) Line Item Description Amount Amount Fixed costs: 100

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