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Crane Inc. had sales of $2,350,000 for the first quarter of 2020. In making the sales, the company incurred the following costs and expenses.

Variable Fixed
Cost of goods $940,000 $464,000
Selling expense 74,000 54,000
Administrative expenses 96000 145,000

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

Respuesta :

Tundexi

Answer:

      CVP Income Statement  

Sales revenue                    2,350,000  

Less: Total variable cost   1,110,000

Contribution margin          1,240,000

Less: Fixed cost                 663,000

Net Operating income     $577,000

Note:

Cost of goods sold    940000  

Selling expenses     74000  

Admin expense         96000

Total variable cost   1110000

Cost of goods sold      464000  

Selling expenses         54000  

Admin expense           145000

Total Fixed cost          663000

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