Question

14 15 16 17 18 19 Answered Unanswere Fill in the blanks. Time Based on the following information, prepare a contribution margin income statement assuming the company uses variable costing. 00 50.000 units 540 per unit Annual production Sales price Variable production cost per unit Direct material Direct labor Manufacturing overhead Fored production costs PAUSE QUIZ 510 3 $25 per unit $150.000 each year: $3 per unitat 50,000 units of apter 5 PowerPoint $1 per unit Variable selling and administrative cost Feedelling and administrative cost apter 5 Discussion 1 S100.000 each year Chapter 5 Discussion 2 Chapter 5 Quiz Variable Expenses: Var Production Var Selling e Admin 50,000 1,300,000 Contribution Margin se Resources Fixed Expenses: Fixed Mig Overhead Fred Selling & Admin 150,000 100.000 250,000 oring and Disability Services Net Income orary Services Previous sp Save & Next S t ar: 721 Hery 12, 2019 4233 A Car Standard Time

Answer 1

Contribution Margin Income Statement Amount Amount Sales (50,000 * $40) $2,000,000 Variable Expenses: Variable Production (50,000 * $25) $1,250,000 Variable Selling & Administrative Cost (50,000 * $1) $50,000 Total variable Cost $1,300,000 Contribution Margin (Sales - Variable Expenses) $700,000 Fixed Manufacturing Cost (Given) $150,000 Fixed Selling & Administrative Costs (Given) $100,000 Total Fixed Costs $250,000 Net Income (Contribution Margin - Fixed Costs) $450,000