Complete the Contribution Margin Income Statement below with the following data: Sales per unit, $75 Variable costs per unit, $30 900 units Maple EnterprisesContribution Margin Income StatementFor the Month Ended September 30 Account Amount Sales $ Variable Costs Contribution Margin $ Fixed Costs 22,500 Net Income $
Complete the Contribution Margin Income Statement below with the following data: Sales per unit, $75 Variable costs per unit, $30 900 units Maple EnterprisesContribution Margin Income StatementFor the Month Ended September 30 Account Amount Sales $ Variable Costs Contribution Margin $ Fixed Costs 22,500 Net Income $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Complete the Contribution Margin Income Statement below with the following data:
- Sales per unit, $75
- Variable costs per unit, $30
- 900 units
Maple EnterprisesContribution Margin Income StatementFor the Month Ended September 30
| Account | Amount |
|---|---|
| Sales | $ |
| Variable Costs | |
| Contribution Margin | $ |
| Fixed Costs | 22,500 |
| Net Income | $ |
Expert Solution
Step 1
A contribution margin is an excess value of sales revenue over the variable cost. It is also an available amount to recover the fixed cost. The contribution margin income statement indicates the effects of variable cost and fixed cost on the income statement.
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