Question
Hamby Inc. has sales of $2,016,000for the first quarter of 2017. In making the sales, the company incurred the following costs and expenses. Variable Fixed
Hamby Inc. has sales of $2,016,000for the first quarter of 2017. In making the sales, the company incurred the following costs and expenses.
| Variable | Fixed | |
| Cost of goods sold | $774,000 | $612,000 |
| Selling expenses | 99,000 | 63,600 |
| Administrative expenses | 80,900 | 74,800 |
Prepare a CVP income statement for the quarter ended March 31, 2017
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
13th edition
978-1-119-4110, 1119411483, 9781119411017, 978-1119411482
