Restate the following income statement in contribution margin format. (Round answers to 2 decimal places, e.g. 15.25 or 15.25%.) Sales ($59 per unit) $ 8,260.00 Less cost of goods sold ($40 per unit) 5,600.00 Gross margin 2,660.00 Less operating expenses: Salaries $839.00 Advertising 450.00 Shipping ($1.14 per unit) 159.60 1,448.60 Operating income $ 1,211.40 PER UNIT RATIO Select an income statement item $Enter a dollar amount $Enter a dollar amount enter percentages % Select between addition and deduction Select an opening name for section one : Select an income statement item $Enter a dollar amount Enter a dollar amount enter percentages % Select an income statement item Enter a dollar amount Enter a dollar amount enter percentages % Select a closing name for section one Enter a total amount for section one Enter a total amount for section one enter percentages % Select a summarizing line for the first part Enter a total amount for the frst part $Enter a total amount for the frst part enter percentages % Select between addition and deduction Select an opening name for section two : select an income statement item enter a dollar amount select an income statement item enter a dollar amount Select a closing name for section two Enter a total amount for section two Select a closing name for this statement $ Enter a total amount for this statement
Restate the following income statement in contribution margin format. (Round answers to 2 decimal places, e.g. 15.25 or 15.25%.) Sales ($59 per unit) $ 8,260.00 Less cost of goods sold ($40 per unit) 5,600.00 Gross margin 2,660.00 Less operating expenses: Salaries $839.00 Advertising 450.00 Shipping ($1.14 per unit) 159.60 1,448.60 Operating income $ 1,211.40 PER UNIT RATIO Select an income statement item $Enter a dollar amount $Enter a dollar amount enter percentages % Select between addition and deduction Select an opening name for section one : Select an income statement item $Enter a dollar amount Enter a dollar amount enter percentages % Select an income statement item Enter a dollar amount Enter a dollar amount enter percentages % Select a closing name for section one Enter a total amount for section one Enter a total amount for section one enter percentages % Select a summarizing line for the first part Enter a total amount for the frst part $Enter a total amount for the frst part enter percentages % Select between addition and deduction Select an opening name for section two : select an income statement item enter a dollar amount select an income statement item enter a dollar amount Select a closing name for section two Enter a total amount for section two Select a closing name for this statement $ Enter a total amount for this statement
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Restate the following income statement in contribution margin format. (Round answers to 2 decimal places, e.g. 15.25 or 15.25%.)
Sales ($59 per unit) | $ 8,260.00 | ||||
---|---|---|---|---|---|
Less cost of goods sold ($40 per unit) | 5,600.00 | ||||
Gross margin | 2,660.00 | ||||
Less operating expenses: | |||||
Salaries | $839.00 | ||||
Advertising | 450.00 | ||||
Shipping ($1.14 per unit) | 159.60 | 1,448.60 | |||
Operating income | $ 1,211.40 |
PER UNIT | RATIO | |||||||
---|---|---|---|---|---|---|---|---|
Select an income statement item | $Enter a dollar amount | $Enter a dollar amount | enter percentages % | |||||
Select between addition and deduction Select an opening name for section one : | ||||||||
Select an income statement item | $Enter a dollar amount | Enter a dollar amount | enter percentages % | |||||
Select an income statement item | Enter a dollar amount | Enter a dollar amount | enter percentages % | |||||
Select a closing name for section one | Enter a total amount for section one | Enter a total amount for section one | enter percentages % | |||||
Select a summarizing line for the first part | Enter a total amount for the frst part | $Enter a total amount for the frst part | enter percentages % | |||||
Select between addition and deduction Select an opening name for section two : | ||||||||
select an income statement item | enter a dollar amount | |||||||
select an income statement item | enter a dollar amount | |||||||
Select a closing name for section two | Enter a total amount for section two | |||||||
Select a closing name for this statement | $ Enter a total amount for this statement |
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