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In December, the Mint Corporation, a manufacturing company, reported the following financial data: Sales $800,000 Cost of Goods Sold (Variable) $300,000 Variable selling expense $105,000
In December, the Mint Corporation, a manufacturing company, reported the following financial data: Sales $800,000 Cost of Goods Sold (Variable) $300,000 Variable selling expense $105,000 Fixed selling expense $95,000 Variable administrative expense $30,000 Fixed administrative expense $70,000 Prepare an income statement in good form for December using the contribution approach. (8 pts) Prepare an income statement in good form for December using the traditional approach. (8 pts)
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