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Need help with the following problem.Please explain. 25. Contribution Margin Income Statement. Last year Pod Products, Inc., sold its product for $250 per unit. Production
Need help with the following problem.Please explain.
25. Contribution Margin Income Statement. Last year Pod Products, Inc., sold its product for $250 per unit. Production costs totaled $40,000 (25 percent fixed, 75 percent variable). Selling and administrative costs totaled $150,000 (10 percent fixed, 90 percent variable). Pod Products produced and sold 1,000 units last year. Required: Prepare a contributon margin income statement for Pod Products, Inc.
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