Answer all questions Section 40 marks a. Cost-Volume-Profit (CVP) Analysis (20 marks) The 4x4 Shop is a large retailer of equipment for pickup truck. An income statement for the company's Bed Liner Department for the most recent quarters presented below The 4 x 4 Shop Income Statement--Liner Department for First Quarter of Current Year Sales Less: Cost of goods sold Gross margin Less: Operating expenses Selling expenses $195.000 Administrative expenses 145.000 Net income $700,000 250,000 $450,000 340.000 $110,000 The Sners selon average for $350 each. The departments variable selling expenses are pertine sold. The remaining selling expenses are fused. The administrative expenses are 25% varable and fixed. The company purchases its liners from a supplier at a cost of SaS perline Hequired Prepare an income statement for the quarter, using the contribution portach b. Manufacturing Cost, COGS, Gress Margin, Operating Income (20 marks) The following data in thousands of dollars) have been taken from the accounting records of caring Corporation for the year just ended Sales Direct Materials Used Direct labour Manufacturing overhead Administrative expenses Selling expenses Work-in-process inventory, beginning Work-in-process inventory, ending Finished goods inventory, beginning Finished goods inventory ending S990 $ 90 $200 S230 S150 $140 $ 70 SSO S120 S160 Compute the cost of Goods Manufactured 15 marks) b) Compute Cost of Goods Sold 15 mars! c) Whats the Gross Maron for the Year? 15 marks d) Compute Net Operating income