Prepare a contribution format income statement for May. (Input all amounts as po

Question

Prepare a contribution format income statement for May. (Input all amounts as positive values. Omit the "$" sign in your response.)

  

  

  

  

$  

  Beginning inventory 0      Units produced 49,000      Units sold 44,000      Selling price per unit $81      Selling and administrative expenses:     Variable per unit $2        Fixed (total) $562,000      Manufacturing costs:     Direct materials cost per unit $18        Direct labor cost per unit $9        Variable manufacturing overhead cost per unit $4        Fixed manufacturing overhead cost (total) $980,000   

Explanation / Answer

Hi,

Please find the answer as follows:

Part A:

Unit Product Cost = 18 + 9 + 4 = 31

Part B

Thanks.

Sales 3564000 Variable Expenses Variable Cost of Goods Sold 1364000 Variable Selling and Administrative Expenses 88000 1452000 Contribution Margin 2112000 Fixed Expenses Fixed Selling and Administrative Expenses 562000 Fixed Manufacturing Overhead 980000 1542000 Net Operating Income 570000

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