Question: The income statement in the traditional reporting format for Green Products, Inc., for the year ended December 31, is as follows: Total fixed manufacturing costs

The income statement in the traditional reporting format for Green Products, Inc., for the year ended December 31, is as follows:

Total fixed manufacturing costs for the year were $16,750. All administrative expenses are considered to be fixed. Using this information, prepare an income statement for Green Products, Inc., for the year ended December 31, using the variable costing format.

Green Products, Inc. Income Statement For the Year Ended December 31 Sales Cost of goods sold Gross margin Selling expenses 5296,400 12,750 $183,650 Variable Fixed 69,820 36,980 Administrative expenses27410 Operating income S 49,440

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