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he year end income statement for Sophie Corporation is presented below: Sophie Corporation Income Statement For the Year Ended December 31, 2019 Sales (600 units)
he year end income statement for Sophie Corporation is presented below:
Sophie Corporation Income Statement For the Year Ended December 31, 2019 | ||
Sales (600 units) | $54,000 | |
Cost of Goods Sold | ||
Labor | $13,500 | |
Material | $16,200 | |
Fixed Overhead | $2,700 | $32,400 |
Gross Profit | $21,600 | |
Administrative Expense | ||
Fixed | $8,100 | |
Variable | $5,400 | $13,500 |
Operating Income | $8,100 |
Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number. For Unit calculations round your answers up to the nearest whole number. a) Calculate the Contribution Margin and Operating Income for the year. Contribution Margin: $Answer Operating Income: $Answer b) Calculate the contribution margin ratio. Contribution Margin Ratio: Answer%
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