Havana Hats makes the world's best hats. Information for the last eight months follows: Number of Hats Produced 4,100 4,500 3,700 5,650 6,250 5,000 Month January February March April May June July August Suppose that Havana expects to sell 5,400 hats during the month of September and that each hat sells for $2.75. Havana performed a least-squares regression and obtained the following results: Intercept X Variable 1 4,850 6,500 Total Cost $ 6,500 6,750 6,100 7,450 7,950 7,050 Coefficients 3,492.13 0.71 6,900 8,200 Required: Prepare Havana's contribution margin income statement for the month of September. Note: Round your answers to 2 decimal places. Havana Hats Contribution Margin Income Statement Month of September
Havana Hats makes the world's best hats. Information for the last eight months follows: Number of Hats Produced 4,100 4,500 3,700 5,650 6,250 5,000 Month January February March April May June July August Suppose that Havana expects to sell 5,400 hats during the month of September and that each hat sells for $2.75. Havana performed a least-squares regression and obtained the following results: Intercept X Variable 1 4,850 6,500 Total Cost $ 6,500 6,750 6,100 7,450 7,950 7,050 Coefficients 3,492.13 0.71 6,900 8,200 Required: Prepare Havana's contribution margin income statement for the month of September. Note: Round your answers to 2 decimal places. Havana Hats Contribution Margin Income Statement Month of September
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Havana Hats makes the world's best hats. Information for the last eight months follows:
Month
January
February
March
April
May
June
July
August
Number of Hats
Produced
4,100
4,500
3,700
5,650
6,250
Intercept
X Variable 1
5,000
4,850
6,500
Total Cost
$6,500
6,750
6,100
7,450
7,950
Suppose that Havana expects to sell 5,400 hats during the month of September and that each hat sells for $2.75.
Havana performed a least-squares regression and obtained the following results:
Coefficients
3,492.13
0.71
7,050
6,900
8,200
Required:
Prepare Havana's contribution margin income statement for the month of September.
Note: Round your answers to 2 decimal places.
Havana Hats
Contribution Margin Income Statement
Month of September
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