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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.
| Variable | Fixed | ||||||
| Product costs | $500,000 | $550,000 | |||||
| Selling expenses | 100,000 | 75,000 | |||||
| Administrative expenses | 80,000 | 67,000 | |||||
Calculate net income under CVP for 2016.
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Accounting For Inventory
Authors: Steven M. Bragg
3rd Edition
1642210145, 9781642210149
