Variable Costing Income Statement On November 30, the end of the first month of operations,...
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Accounting
Variable Costing Income Statement
On November 30, the end of the first month of operations, Weatherford Company prepared the following income statement, based on the absorption costing concept:
Weatherford Company Absorption Costing Income Statement For the Month Ended November 30
Sales (6,300 units)
$163,800
Cost of goods sold:
Cost of goods manufactured (7,200 units)
$129,600
Inventory, November 30 (1,000 units)
18,000
Total cost of goods sold
111,600
Gross profit
$52,200
Selling and administrative expenses
28,990
Income from operations
$23,210
Assume the fixed manufacturing costs were $29,808 and the fixed selling and administrative expenses were $14,200.
Prepare an income statement according to the variable costing concept. Round all final answers to whole dollars.
Weatherford Company
Variable Costing Income Statement
For the Month Ended November 30
$
Variable cost of goods sold:
$
$
$
Fixed costs:
$
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