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Assume Jacob Garzon sales his photographs for $20 each and incurs the variable expenses per photograph shown below. Cost of goods sold 6.00 Salaries and
Assume Jacob Garzon sales his photographs for $20 each and incurs the variable expenses per photograph shown below.
Cost of goods sold | 6.00 |
Salaries and wages expense | 2.00 |
Postage expense | 1.50 |
Assume his fixed expenses are as follows:
Cost of goods sold | $4,000 |
Advertising | $ 600 |
Salaries and wages expense | $10,000 |
Insurance expense | $1,500 |
Depreciation expense | $1,300 |
Prepare a contribution format income statement assuming Jacob sells 4,000 photographs. You can prepare the income statement in WORD or EXCEL.
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