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Giannini Inc., which produces and sells a single product, has provided the following contribution format income statement for March: Sales (5,000 units) Variable expenses Contribution margin Fixed expenses $ 320,000 150,000 170,000 104,700 $ 65,300 Net operating income

Giannini Inc., which produces and sells a single product, has provided the following contribution format income statement for March: Sales (5,000 units) Variable expenses Contribution margin Fixed expenses $ 320,000 150,000 170,000 104,700 $ 65,300 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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Giannini Inc., which produces and sells a single product, has provided the following contribution format income statement for March: Sales (5,000 units) Variable expenses Contribution margin Fixed expenses $320,000 150,000 170,000 104, 700 Net operating income $ 65,300 Required: Redo the company's contribution format income statement assuming that the company sells 5,200 units. (Do not round intermediate calculations.) Sales $ 332,800 Variable expenses 156,000 Contribution margin 176,800 Fixed expenses Net operating income $ 176,800
Transcribed Image Text:Giannini Inc., which produces and sells a single product, has provided the following contribution format income statement for March: Sales (5,000 units) Variable expenses Contribution margin Fixed expenses $320,000 150,000 170,000 104, 700 Net operating income $ 65,300 Required: Redo the company's contribution format income statement assuming that the company sells 5,200 units. (Do not round intermediate calculations.) Sales $ 332,800 Variable expenses 156,000 Contribution margin 176,800 Fixed expenses Net operating income $ 176,800
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