Havana Hats makes the world's best hats. Information for the last eight months follows: Number of Hats Produced 2,500 Month January February March April May June 4,500 5,800 3,260. 4,250 Intercept X Variable 1 4 2,850 6,000 2,300 Total Cost $4,400 7,750 8,800 5,650 7,200 4,900 9,010 4,200 July August Suppose that Havana expects to sell 4,300 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 1,214.36 1.34 Required: Prepare Havana's contribution margin income statement for the month of September. Note: Round your answers to 2 decimal places.

Havana Hats makes the world's best hats. Information for the last eight months follows: Number of Hats Produced 2,500 Month January February March April May June 4,500 5,800 3,260. 4,250 Intercept X Variable 1 4 2,850 6,000 2,300 Total Cost $4,400 7,750 8,800 5,650 7,200 4,900 9,010 4,200 July August Suppose that Havana expects to sell 4,300 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 1,214.36 1.34 Required: Prepare Havana's contribution margin income statement for the month of September. Note: Round your answers to 2 decimal places.

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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