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

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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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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