On October , the end of the first month of operation, Al's Company, prepparte the following income statment based on absorption costing
- Sales (2,600 units) 104,000
- Cost of Goods sold:
- Cost of Good Manufactured $85,500
- less ending inventory (400) 11,400
- Cost of good sold 74,100
- Gross Profit 29,900
- Selling & adminsitrative Expenses 21,500
- Income from operation 8,400
if the fixed manufacting cost were $42,900 and te variable selling and adminstrative expense were $14,600, prepare an income statment in accordance with the variable csting conept.