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Kipling Company has sales of $1,500,000 for the first quarter of 2016. In making the sales, the company incurred the following costs and expenses. Variable
Kipling Company has sales of $1,500,000 for the first quarter of 2016. In making the sales, the company incurred the following costs and expenses.
Calculate net income under CVP for 2016.
| Variable | Fixed | |
| Product costs | $500,000 | $550,000 |
| Selling expenses | 100,000 | 75,000 |
| Administrative expenses | 80,000 | 67,000 |
| CVP | $ |
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Accounting Chapters 1-13
Authors: Carl Warren
27th Edition
1337272108, 978-1337272100
