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Hangie Hats makes the worlds best hats. Information for the last eight months follows: Month Number of Hats Produced Total Cost January 4,000 $ 7,000
Hangie Hats makes the worlds best hats. Information for the last eight months follows:
Month | Number of Hats Produced | Total Cost |
---|---|---|
January | 4,000 | $ 7,000 |
February | 2,250 | 5,000 |
March | 3,500 | 6,250 |
April | 4,300 | 7,750 |
May | 1,875 | 5,000 |
June | 3,000 | 6,250 |
July | 1,500 | 4,250 |
August | 2,500 | 5,750 |
Suppose that Hangie expects to sell 4,100 hats during the month of September and that each hat sells for $2.75.
Hangie performed a least-squares regression and obtained the following results:
Coefficients | |
---|---|
Intercept | 2,718.59 |
X Variable 1 | 1.11 |
Required:
Prepare Hangies contribution margin income statement for the month of September.
Note: Round your answers to 2 decimal places.
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