Prepare a CVP income statement for the quarter ended March 31, 2022

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A 178.

Subject:- accounting 

CraneManufacturing Inc. had sales of $3.00 million for the first quarter of 2022. In making the sales, the company incurred the
following costs and expenses:
Variable
$920,000
73,000
Administrative expenses 87,000
Cost of goods sold
Selling expenses
Prepare a CVP income statement for the quarter ended March 31, 2022.
CRANE MANUFACTURING INC.
CVP Income Statement
Variable costs
Fixed
$448.500
42.000
95,500
Operating income
Transcribed Image Text:CraneManufacturing Inc. had sales of $3.00 million for the first quarter of 2022. In making the sales, the company incurred the following costs and expenses: Variable $920,000 73,000 Administrative expenses 87,000 Cost of goods sold Selling expenses Prepare a CVP income statement for the quarter ended March 31, 2022. CRANE MANUFACTURING INC. CVP Income Statement Variable costs Fixed $448.500 42.000 95,500 Operating income
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