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Prepare a contribution margin income statement for X-Ray Manufacturing using the following information: Sales $4,729,302 Fixed overhead 1,382,842 Direct labor 487,202 Direct materials 678,302 Selling
Prepare a contribution margin income statement for X-Ray Manufacturing using the following information:
Sales | $4,729,302 |
Fixed overhead | 1,382,842 |
Direct labor | 487,202 |
Direct materials | 678,302 |
Selling expenses | 378,972 |
Administrative expenses | 482,731 |
Variable overhead | 248,528 |
Interest expense | 127,456 |
Income tax | 330,144 |
X-Ray Manufacturing | ||
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Contribution Margin Income Statement | ||
Sales | Amount | |
Variable costs: | ||
Item | Amount | |
Item | Amount | |
Item | Amount | |
Total variable costs | Amount | |
Contribution margin | Amount | |
Item | Amount | |
Gross margin | Amount | |
Item | Amount | |
Item | Amount | |
Total selling and administrative expenses | Amount | |
Operating income | Amount | |
Item | Amount | |
Income before taxes | Amount | |
Item | Amount | |
Income before taxes | Amount |
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