Begin by preparing the projected income statement using the traditional format. (Round your answers to the nearest whole dollar. Enter losses with parentheses ora minus sign.)Pillard DrycleanersProjected Income StatementMonth Ended March 31Dry cleaning revenue$Less: Operating costsOperating income (loss)Next complete the projected contribution margin income statement. (Round your answers to the nearest whole dollar. Enter losses with parentheses or a minussign.)Pillard DrycleanersProjected Contribution Margin Income StatementMonth Ended March 31Dry cleaning revenueLess:Variable costsContribution marginLess:Fixed costsOperating income (loss) Pierce Drycleaners has capacity to clean up to 6,000 garments per month.E (Click the icon to view the cost schedule.)Assume that Pierce charges customers $12 per garment for dry cleaning. Prepare Pierce's projected income statement if 4,220 garments are cleaned in March. First,prepare the income statement using the traditional format; then prepare Pierce's contribution margin income statement.Data tableswers to the nearest whole dollar. Enter losses with parentheses or a4,500Garments3,0006,000GarmentsGarmentsTotal variable costs$2,100 $3,150 $4,200Total fixed costs10,80010,80010,800$12,900 $13,950 $15,000Total operating costsVariable cost per garment2$0.70 $0.70 $0.703.602.401.80Fixed cost per garment$Average cost per garment4.30 $3.10 $2.50PrintDone

Income statement is one of the financial statement which shows all incomes and all expenses of the…

Begin by preparing the projected income statement using the traditional format. (Round your answers to the nearest whole dollar. Enter losses with parentheses c a minus sign.) Pillard Drycleaners Projected Income Statement Month Ended March 31 Dry cleaning revenue Less: Operating costs Operating income (loss) Next complete the projected contribution margin income statement. (Round your answers to the nearest whole dollar. Enter losses with parentheses or a minus sign.) Pillard Drycleaners Projected Contribution Margin Income Statement Month Ended March 31 Dry cleaning revenue

Begin by preparing the projected income statement using the traditional format. (Round your answers to the nearest whole dollar. Enter losses with parentheses c a minus sign.) Pillard Drycleaners Projected Income Statement Month Ended March 31 Dry cleaning revenue Less: Operating costs Operating income (loss) Next complete the projected contribution margin income statement. (Round your answers to the nearest whole dollar. Enter losses with parentheses or a minus sign.) Pillard Drycleaners Projected Contribution Margin Income Statement Month Ended March 31 Dry cleaning revenue

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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