The Robinson Company sells sports decals that can be personalized with a player's name, team name, and jersey number for $5.50 each. Robinson buys the decals from a supplier for $1.40 each and spends an additional $0.50 in variable operating costs per decal. The results of last month's operations are as follows: Sales revenue Cost of goods sold Gross profit Operating costs Operating income $15,510 3,948 11,562 2,887 $ 8,675 Prepare a contribution format Income statement for the Robinson Company. (Round per unit values to 2 decimal places, e.g. 52.75 & final answers to 0 decimal places, 5,725.)
The Robinson Company sells sports decals that can be personalized with a player's name, team name, and jersey number for $5.50 each. Robinson buys the decals from a supplier for $1.40 each and spends an additional $0.50 in variable operating costs per decal. The results of last month's operations are as follows: Sales revenue Cost of goods sold Gross profit Operating costs Operating income $15,510 3,948 11,562 2,887 $ 8,675 Prepare a contribution format Income statement for the Robinson Company. (Round per unit values to 2 decimal places, e.g. 52.75 & final answers to 0 decimal places, 5,725.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The Robinson Company sells sports decals that can be personalized with a player's name, team name, and jersey number for $5.50 each. Robinson buys the decals from
a supplier for $1.40 each and spends an additional $0.50 in variable operating costs per decal. The results of last month's operations are as follows:
Sales revenue
Cost of goods sold.
Gross profit
Operating costs
Operating income
$15,510
3,948
11,562
2,887
$ 8,675
Prepare a contribution format Income statement for the Robinson Company. (Round per unit values to 2 decimal places, e.g. 52.75 & final answers to 0 decimal
places, 5,725.)
Sales Revenue
Less Variable Expenses
Cost of Goods Sold
Variable Expenses
Total Variable Expenses ▼
Fixed Operating Expenses
Operating Expenses
Operating Income
:
3948
15510
2887
$
$
Per Unit
5.50
1.40
0.60
2.0
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