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Following is relevant information for Philly's Sandwich Shop, a small business that serves sandwiches: Total fixed cost per month Variable cost per sandwich $ 1,160.00 1.20 Sales price per sandwich 5.50 During the month of June, Philly's sold 490 sandwiches. Required: Complete the contribution margin income statement for the month of June. Note: Round your final answers to the nearest whole dollar. Philly's Sandwich Shop Contribution Margin Income Statement Month of June Contribution margin Net Operating income

Following is relevant information for Philly's Sandwich Shop, a small business that serves sandwiches: Total fixed cost per month Variable cost per sandwich $ 1,160.00 1.20 Sales price per sandwich 5.50 During the month of June, Philly's sold 490 sandwiches. Required: Complete the contribution margin income statement for the month of June. Note: Round your final answers to the nearest whole dollar. Philly's Sandwich Shop Contribution Margin Income Statement Month of June Contribution margin Net Operating income

FINANCIAL ACCOUNTING
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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Following is relevant information for Philly's Sandwich Shop, a small business that serves sandwiches: $ 1,160.00 Total fixed cost per month Variable cost per sandwich 1.20 Sales price per sandwich 5.50 During the month of June, Philly's sold 490 sandwiches. Required: Complete the contribution margin income statement for the month of June. Note: Round your final answers to the nearest whole dollar. Philly's Sandwich Shop Contribution Margin Income Statement Month of June Contribution margin Net Operating income
Transcribed Image Text:Following is relevant information for Philly's Sandwich Shop, a small business that serves sandwiches: $ 1,160.00 Total fixed cost per month Variable cost per sandwich 1.20 Sales price per sandwich 5.50 During the month of June, Philly's sold 490 sandwiches. Required: Complete the contribution margin income statement for the month of June. Note: Round your final answers to the nearest whole dollar. Philly's Sandwich Shop Contribution Margin Income Statement Month of June Contribution margin Net Operating income
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