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Jorge Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers who charge customers 75 cents per bottle. For the year 2014, management estimates the following revenues and costs: Sales Direct materials Direct labor 1,800,000 425,500 356,300 Manufacturing overhead - variable 311,800 Manufacturing overhead - fixed 288,200 Selling expenses - variable 68,900 Selling expenses - fixed 67,500 Administrative expenses - variable 93,714 63,400 Administrative expenses - fixed Required: Prepare a CVP income statement for 2014 based on manage mental estimates.

Jorge Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers who charge customers 75 cents per bottle. For the year 2014, management estimates the following revenues and costs: Sales Direct materials Direct labor 1,800,000 425,500 356,300 Manufacturing overhead - variable 311,800 Manufacturing overhead - fixed 288,200 Selling expenses - variable 68,900 Selling expenses - fixed 67,500 Administrative expenses - variable 93,714 63,400 Administrative expenses - fixed Required: Prepare a CVP income statement for 2014 based on manage mental estimates.

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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Please prepare income statment

Jorge Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers who charge customers 75 cents per bottle. For the year 2014, management estimates the following revenues and costs: Sales Direct materials Direct labor 1,800,000 425,500 356,300 Manufacturing overhead - variable 311,800 Manufacturing overhead - fixed 288,200 Selling expenses - variable 68,900 Selling expenses - fixed 67,500 Administrative expenses - variable 93,714 63,400 Administrative expenses - fixed Required: Prepare a CVP income statement for 2014 based on manage mental estimates.
Transcribed Image Text:Jorge Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers who charge customers 75 cents per bottle. For the year 2014, management estimates the following revenues and costs: Sales Direct materials Direct labor 1,800,000 425,500 356,300 Manufacturing overhead - variable 311,800 Manufacturing overhead - fixed 288,200 Selling expenses - variable 68,900 Selling expenses - fixed 67,500 Administrative expenses - variable 93,714 63,400 Administrative expenses - fixed Required: Prepare a CVP income statement for 2014 based on manage mental estimates.
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