Marano Corporation produces and sells a single product. In October, the company sold 2,500 units. Its...
|
Marano Corporation produces and sells a single product. In October, the company sold 2,500 units. Its total sales were $149,000, its total variable expenses were $79,500, and its total fixed expenses were $56,400. |
| Required: | |
| a. |
Construct the company's contribution format income statement for October. (Do not round intermediate calculations.) |
| Net operating income= | |
| b. |
Redo the company's contribution format income statement assuming that the company sells 2,400 units.(Do not round intermediate calculations.) |
| Net operating income= |
Homework Answers
Answer:
(1)
Construct the company's contribution format income statement for October
|
Contribution format statement (2500 units) |
|
|
Particular |
Amount $ |
|
Sales |
149000 |
|
less: |
|
|
Variable Cost |
79500 |
|
Contribution margin |
69500 |
|
Less: |
|
|
fixed Expenses |
56400 |
|
Net Operating Income |
13100 |
________________________________________
(2)
Redo the company's contribution format income statement assuming that the company sells 2,400 units
|
Contribution format statement (2400 units) |
|
|
Particular |
Amount $ |
|
Sales (149000*2400/2500) |
143040 |
|
less: |
|
|
Variable Cost (79500*2400/2500) |
76320 |
|
Contribution margin |
66720 |
|
Less: |
|
|
fixed Expenses |
56400 |
|
Net Operating Income |
10320 |
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