For the Month Ended April 30
Sales (2,500 units)
Cost of goods sold:
Cost of goods manufactured (2,875 units)
Inventory, April 30 (375 units)
Total cost of goods sold
Gross profit
Selling and administrative expenses
Operating income
$52,500
$43,125
(5,625)
(37,500)
$15,000
(8,940)
$6,060
If the fixed manufacturing costs were $10,350 and the fixed selling and administrative expenses were $4,380, 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 Description
Amount
Amount
Sales?
52,500?
Variable cost of goods sold:
Variable cost of goods manufactured
?
32,775 ?
Inventory, April 30
7,401.32 X
Total variable cost of goods sold
?
28,500?
Manufacturing margin?
Variable selling and administrative expenses
Contribution margin??
Fixed costs:
Fixed manufacturing costs
Fixed selling and administrative expenses
Total fixed costs?
Operating income ?
