PLEASE DONT GIVE IMMAGE BASED ANSWERS THANK YOU The Central Valley Company is a manufacturing firm that produces and sells a single product. The company's revenues and expensesfor the last four months are given below.Central Valley CompanyComparative Monthly Income StatementsMarchAprilMay5,5505,300 4,800$726,100 $657,600 $760,350379,500352,000388,250346,600305,600372,100Sales in unitsSales revenueLess: Cost of goods soldGross marginLess: Operating expensesShipping expenseAdvertising expenseSalaries & commissions:Insurance expenseDepreciation expenseTotal operating expensesNet income.COGSShippingSalaries and commissions64,90073,000163,6009,30042,000352,800Y =Y =Y =59,90073,000144,300$ (6,200) $(22,900)68,15073,000CENTRAL VALLEY COMPANY165,5509,30042,0009,30042,000328,500 358,000$ 14,100June6,200Required:1. Management is concerned about the losses experienced during the spring and would like to know more about the cost behaviour.Develop a cost equation for each of the costs.XXX$849,400429,000420,40072,50073,000183,5009,30042,000380,300$ 40,1002. Using the cost equations, prepare a contribution margin income statement (in good form) for September when 5,900 units areexpected to be sold. 2. Using the cost equations, prepare a contribution margin income statement (in good form) for September when 5,900 units areexpected to be sold.Variable costs:Less fixed costs:CENTRAL VALLEY COMPANYContribution Income StatementFor the month ended September 30

The high low method is used to separate the fixed and variable costs from the mixed costs of…

The Central Valley Company is a manufacturing firm that produces and sells a single product. The company's revenues and expenses for the last four months are given below. Central Valley Company Comparative Monthly Income Statements April 4,800 $657,600 $760,350 352,000 388,250 305,600 372,100 Sales in units Sales revenue Less: Cost of goods sold Gross margin Less: Operating expenses Shipping expense Advertising expense Salaries & commissions Insurance expense Depreciation expense Total operating expenses Net income March 5,300 $726,100 379,500 346,600 64,900 73,000 163,600 9,300 42,000 352,800 $ (6,200) May 5,550 59,900 73,000 144,300 9,300 42,000 328,500 $(22,900) $14,100 68,150 73,000 165,550 9,300 42,000 358,000 June 6,200 $849,400 429,000 420,400 72,500 73,000 183,500 9,300 42,000 380,300 $ 40,100

The Central Valley Company is a manufacturing firm that produces and sells a single product. The company's revenues and expenses for the last four months are given below. Central Valley Company Comparative Monthly Income Statements April 4,800 $657,600 $760,350 352,000 388,250 305,600 372,100 Sales in units Sales revenue Less: Cost of goods sold Gross margin Less: Operating expenses Shipping expense Advertising expense Salaries & commissions Insurance expense Depreciation expense Total operating expenses Net income March 5,300 $726,100 379,500 346,600 64,900 73,000 163,600 9,300 42,000 352,800 $ (6,200) May 5,550 59,900 73,000 144,300 9,300 42,000 328,500 $(22,900) $14,100 68,150 73,000 165,550 9,300 42,000 358,000 June 6,200 $849,400 429,000 420,400 72,500 73,000 183,500 9,300 42,000 380,300 $ 40,100

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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