a | Value Income Statement | |||
Non value added activities | Value added activities | Total | ||
Sales Revenue | 305000 | 305000 | ||
Cost of services sold: | ||||
Variable costs of operations, excluding labor costs |
1830 (91500*2%) |
89670 (91500*98%) |
91500 | |
Employee wages and salaries |
15825 (105500*15%) |
89675 (105500*85%) |
105500 | |
Fixed cost of automobiles |
10675 (30500*35%) |
19825 (30500*65%) |
30500 | |
Gross margin (loss) | -28330 | 105830 | 77500 | |
Administrative expenses: | ||||
Manager salaries |
5475 (36500*15%) |
31025 (36500*85%) |
36500 | |
Building costs |
2700 (18000*15%) |
15300 (18000*85%) |
18000 | |
Operating Income (loss) | -36505 | 59505 | 23000 |
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DeLuxe Limo Service has the following information for March Sales revenue Variable costs of operations, excluding l...
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