The following information is available for Bramble Corp.:SalesCost of goodssold$5200000 0 0 0300000Total fixedexpensesA CVP income statement would reportcontributiongross profit of $220000.contributiongross profit of $260000.Total variableexpensesmargin of $260000.margin of $370000.$150000260000

The contribution margin is calculated as the difference between the sales and variable costs. The…

The following information is available for Bramble Corp.: Sales Cost of goods sold $520000 300000 Total fixed expenses Total variable expenses A CVP income statement would report contribution margin of $260000. gross profit of $220000. contribution margin of $370000. gross profit of $260000. $150000 260000

The following information is available for Bramble Corp.: Sales Cost of goods sold $520000 300000 Total fixed expenses Total variable expenses A CVP income statement would report contribution margin of $260000. gross profit of $220000. contribution margin of $370000. gross profit of $260000. $150000 260000

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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Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. I cannot for the life of me figure out the second portion of this.
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Assume the following information for a merchandising company: Number of units sold 20,000 Selling price per unit $ 30 Variable selling expense per unit $ 3.60 Variable administrative expense per unit $ 3.10 Fixed administrative expenses $ 50,000 Beginning merchandise inventory $ 24,000 Ending merchandise inventory $ 19,000 Merchandise purchases $ 340,000 What is the contribution margin?
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Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit) $ 70,000 Less cost of goods sold ($58 per unit) 40,600 Gross margin 29,400 Less operating costs: Commissions expense ($6 per unit) $ 4,200 Salaries expense 7,900 Advertising expense 5,900 Shipping expense ($1 per unit) 700 18,700 Operating income $ 10,700 Per Unit select an income statement item $enter a dollar amount $enter a dollar amount select an opening name for section one : select an income statement item $enter a dollar amount enter a dollar amount select an income statement item…
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