barnard inc. variable costing income statement for the year ended march 31, 20y1 sales $648,000 variable cost of goods sold: variable cost of goods manufactured $364,000 inventory, march 31 (52,000) total variable cost of goods sold (312,000) manufacturing margin $336,000 total variable selling and administrative expenses (76,800) contribution margin $259,200 fixed costs: fixed manufacturing costs $165,200 fixed selling and administrative expenses 52,800 total fixed costs (218,000) operating income $41,200