CONCERT PIANOS INC. | ||
Contribution Format Income Statement | ||
For the month Ended March 31 | ||
Particular | Total ($) | Per piano |
Sales | 291500 | 5300 |
Variable Expenses | ||
Cost of Good sold | 154000 | 2800 |
Delivery of pianos | 3300 | 60 |
Sales Commissions | 14575 | 5% of sales |
Clerical | 2200 | 40 |
Total Variable Expenses | 174075 | |
Contribution Margin | 117425 | |
Fixed Expenses | ||
Advertising | 950 | |
Sales Salaries | 4800 | |
Utilities | 650 | |
Depreciation sales facilities | 5000 | |
Executive salary | 13500 | |
Depreciation of equipment | 900 | |
Clerical | 2500 | |
Insurance | 700 | |
Total Fixed expenses | 29000 | |
Net operating income | 88425 |
CONCERT PIANOS INC. | |
Contribution Format Income Statement | |
For the month Ended March 31 | |
Particular | Total ($) |
Sales | 291500 |
Cost of good sold | 154000 |
Gross Margin | 137500 |
Sales and Adminstrative expenses | |
Selling Expenses | |
Advertising | 950 |
Delivery of piano | 3300 |
Sales salary and commissions | 19375 |
Utilities | 650 |
Depreciation of sales facilities | 5000 |
Total selling expenses | 29275 |
Administrative expenses | |
Executive salary | 13500 |
Depreciation of equipment | 900 |
Clerical | 4700 |
Insurance | 700 |
Total administrative expenses | 19800 |
Total selling and administrative exp | 49075 |
Net operating Income | 88425 |
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