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O s71.995 S64.26

O s71.995 S64.26

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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Stafford Company prepared a static budget for a production and sales volume of 11,200 units. Per unit Static standards Budget Number of units 11,200 Sales revenue $77.00 $862,400 Variable manufacturing costs: Materials $18.00 201,600 Labor $14.00 156,800 Overhead $ 5.40 60,480 Variable general, selling, and administrative costs Contribution margin $18.00 201,600 $241,920 Fixed costs Manufacturing overhead 112,800 General, selling, and administrative costs 57,000 Net income $ 72,120 What is the net income if 10,200 units are sold? Multiple Choice $71,995 $72,478 $64,268 $50,520
Transcribed Image Text:Stafford Company prepared a static budget for a production and sales volume of 11,200 units. Per unit Static standards Budget Number of units 11,200 Sales revenue $77.00 $862,400 Variable manufacturing costs: Materials $18.00 201,600 Labor $14.00 156,800 Overhead $ 5.40 60,480 Variable general, selling, and administrative costs Contribution margin $18.00 201,600 $241,920 Fixed costs Manufacturing overhead 112,800 General, selling, and administrative costs 57,000 Net income $ 72,120 What is the net income if 10,200 units are sold? Multiple Choice $71,995 $72,478 $64,268 $50,520
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