Question
Jorgensen Company reported the following information about the production and sale of its only product during the first month of operations: Selling price per unit
Jorgensen Company reported the following information about the production and sale of its only product during the first month of operations:
Selling price per unit $300
Sales $480,000
Direct materials used $220,000
Direct labor $200,000
Variable factory overhead $60,000
Fixed factory overhead $80,000
Variable selling and administrative expenses $20,000
Fixed selling and administrative expenses $10,000
Ending inventory, Direct Materials 0
Ending inventory, Work in process 0
Ending inventory, Finished Goods 400 units
Under variable costing, the contribution margin is ________.
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