Wildhorse Company has sales of $1,657,000 for the first quarter of 2022. In making the sales, the company incurred the following costs and expenses. Product costs Selling expenses Administrative expenses Variable $522,000 122,000 102,000 Fixed $572,000 97,000 89,000 Calculate the company's net income under CVP for 2022.
Wildhorse Company has sales of $1,657,000 for the first quarter of 2022. In making the sales, the company incurred the following costs and expenses. Product costs Selling expenses Administrative expenses Variable $522,000 122,000 102,000 Fixed $572,000 97,000 89,000 Calculate the company's net income under CVP for 2022.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Wildhorse Company has sales of $1,657,000 for the first quarter of 2022. In making the sales, the company incurred the following
costs and expenses.
Product costs
Selling expenses
Administrative expenses
Variable
Net Income $
$522,000
122,000
102,000
Fixed
$572,000
97,000
89,000
Calculate the company's net income under CVP for 2022.
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