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Russell Inc. had sales of $2,200,000 for the first quarter of 2017. In making the sales, the company incurred the following costs and expenses.                                                                     Variable                      Fixed Cost of goods sold                                $920,000                    $440,000 Selling  expenses                                    70,000                            45,000  Administrative  expenses                       86,000                            98,000   Prepare a CVP income statement for the quarter ended March 31, 2017

Russell Inc. had sales of $2,200,000 for the first quarter of 2017. In making the sales, the company incurred the following costs and expenses.                                                                     Variable                      Fixed Cost of goods sold                                $920,000                    $440,000 Selling  expenses                                    70,000                            45,000  Administrative  expenses                       86,000                            98,000   Prepare a CVP income statement for the quarter ended March 31, 2017

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Russell Inc. had sales of $2,200,000 for the first quarter of 2017. In making the sales, the company incurred the following costs and expenses.

                                                                    Variable                      Fixed

Cost of goods sold                                $920,000                    $440,000

Selling  expenses                                    70,000                            45,000 

Administrative  expenses                       86,000                            98,000

 



Prepare a CVP income statement for the quarter ended March 31, 2017

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