Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot. Monthly sales and the contribution margin ratios for the two products follow: Product Total Flight Dynamic Sure Shot Sales $ 670,000 $330,000 $1,000,000 CM ratio 62% 72% ? Fixed expenses total $591,000 per month. Required: 1. Prepare a contribution format income statement for the company as a whole.

Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot. Monthly sales and the contribution margin ratios for the two products follow: Product Total Flight Dynamic Sure Shot Sales $ 670,000 $330,000 $1,000,000 CM ratio 62% 72% ? Fixed expenses total $591,000 per month. Required: 1. Prepare a contribution format income statement for the company as a whole.

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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