Crookshank Manufacturing has total fixed costs of $460,000. A unit of product sells for $20 and variable costs per unit are $11.Prepare a contribution margin income statement showing predicted net income (loss) if Crookshank sells 100,000 units for the year ended December 31.
What will be an ideal response?
| Crookshank Manufacturing Contribution Margin Income Statement For Year Ended December 31 | ? |
| Sales (100,000 ? $20) | $2,000,000 |
| Variable costs (100,000 ? $11) | 1,100,000 |
| Contribution margin | 900,000 |
| Fixed costs | 460,000 |
| Net income | $440,000 |
You might also like to view...
Cyber-hangouts in Europe try to increase customer traffic with computer game competitions. In doing so, the retailers show their awareness of the importance of ________ in designing the activities offered in the store
A) lifestyle B) self-concept C) family life cycles D) situational influences E) social class
Article 4A of the Uniform Commercial Code governs commercial and consumer wire transfers
Indicate whether the statement is true or false
On January 4, Year 1, Barber Company purchased 5100 shares of Convell Company for $60,500 plus a broker's fee of $1020. Convell Company has a total of 25,500 shares of common stock outstanding and it is presumed the Barber Company will have a significant influence over Convell. During each of the next two years, Convell declared and paid cash dividends of $0.85 per share, and its net income was $73,000 and $68,000 for Year 1 and Year 2, respectively. What is the book value of Barber's investment in Convell at the end of Year 2?
A. $89,720. B. $88,720. C. $52,850. D. $81,050. E. $61,520.
At common law, __________ was defined as a breaking and entering of a dwelling house at night with the intent to commit a felony
a. burglary b. bribery c. robbery d. theft