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Need help on 2B thank you! Req 1A Req 18 Req 2A Req 2B Prepare a contribution format income statement for May. Assume that the
Need help on 2B thank you!
Req 1A Req 18 Req 2A Req 2B Prepare a contribution format income statement for May. Assume that the High Country, Inc. Variable Costing Income Statement Sales Variable expenses Variable cost of goods sold Variable selling expense Contribution margin 0 Fixed expenses Fixed manufacturing overhead Fixed selling and administrative expense 0 Net operating income * Req 2A High Country, Inc. produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant's operation 49,00 44.00 18 $ Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses Variable per unit Fixed per month) Manufacturing COSTE Directorials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unst ufacturing overhead cost per month $ $55.ece 5 TH $ $ 3784,000 Management is anxious to assess the profitability of the new camp cot during the month of May Required: assume that the company uses absorption costing a Determine the unit product cost Bregate an income statement for May Assume that the company uses variable costing Diesermine in alt product cost Prepare a contribution formal income statement for May Step by Step Solution
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