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Crane Industries produces and sells a cell phone-operated home security control. Information regarding the costs and sales of security controls during May 2020 are
Crane Industries produces and sells a cell phone-operated home security control. Information regarding the costs and sales of security controls during May 2020 are provided below. Unit selling price of security control $49 Unit variable costs $24 Total monthly fixed costs $134,000 Units sold 8,300 Prepare a CVP income statement for Crane Industries for the month of May. Provide per unit values and total values. Crane Industries CVP Income Statement For the Month Ended May 31, 2020 Sales Variable Costs Contribution Margin Fixed Costs Net Income/oss Total Per Unit 134000 $ 49 24 $ 25
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