7. China Imports, Inc., sold 6,500 units in May. Per unit selling price and variable expense were...
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Question:
7.
| China Imports, Inc., sold 6,500 units in May. Per unit selling price and variable expense were $16 and $8, respectively. Fixed expense incurred for May totaled $42,000. |
| Required: |
Prepare the May income statement for China Imports, Inc., in the contribution margin format. |
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