Question

Check my work View previol Milden Company Contribution Format Income Statement For the Next Quarter points Variable expenses: (8 02:48:57 eBook Print References Total variable expenses Contribution margin Fixed expenses Total fixed expenses

Answer 1

Milden Company Contribution format Income Statement For the next quarter Sales Revenue 1,173,000 23000 x 51.00 Variable Expenses Cost of Goods Sold 483,000 23000 x 21.00 Sales Commission 1173000 x 6% 70,380 2$ Shipping Expense 161,000 23000 x 7.00 Total Variable Expense Contribution Margin Fixed Expenses Advertising Expense Shipping Expense 714,380 458,620 171,000 Given 42,000 Given Administrative Salaries 81,000 Given Insurance Expense 9,100 Given Depreciation Expense 51,000 Given Total Fixed Expense 354,100 Net Income 104,520 Milden Company Traditional Income Statement For the next quarter Sales Revenue 1,173,000 23000 x 51.00 Cost of goods sold Gross profit Selling & Administrative Expenses: 23000 x 21.00 483,000 690,000 2$ Sales Commission 70,380 1173000 x 6% Shipping Expense Advertising Expense (23000 x 7.000) +42000 203,000 171,000 Given Administrative Salaries 81,000 Given Insurance Expense 9,100 Given Depreciation Expense 51,000 Given Total Selling & Administrative Expense 585,480 Net Income 104,520 %24