18-3

Cedar Grove Industries produces and sells a cell phone-operated home security control. Information regarding the costs and sales of security controls during May 2017 are provided below.

Unit selling price of security control

$48Unit variable costs

$28Total monthly fixed costs

$125,000Units sold8,300

CVP income statement for Cedar Grove Industries for the month of May. Provide per unit values and total values.

Cedar Grove Industries

CVP Income Statement

For the Quarter Ended May 31, 2017For the Month Ended May 31, 2017May 31, 2017

TotalPer UnitAdministrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs

$

$

Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs

Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs

$

Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs

Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs

$