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China Imports Inc. sold 14,000 units in May. Per unit selling price and variable expense were $31 and $23, respectively. Fixed expense incurred for May
China Imports Inc. sold 14,000 units in May. Per unit selling price and variable expense were $31 and $23, respectively. Fixed expense incurred for May totaled $72,000. Required: Prepare the May income statement for China Imports in the contribution margin format. 26 CHINA IMPORTS INC. May Income Statement Contribution Margin Format
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
10th Canadian Edition Volume 2
1118300858, 978-1118300855
