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China Imports Inc. sold 6,000 units in May. Per unit selling price and variable expense were $15 and $7, respectively. Fixed expense incurred for May

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China Imports Inc. sold 6,000 units in May. Per unit selling price and variable expense were $15 and $7, respectively. Fixed expense incurred for May totaled $40,000. Required: Prepare the May income statement for China Imports in the contribution margin format. CHINA IMPORTS INC. May Income Statement Contribution Margin Format

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