Question
Preparing a Contribution Format Income Statement. (LO 3-1) Wheeler Corporations most recent income statement follows. Total Per Unit Sales (8,000 units) $208,000 $26.00 Variable expenses
Preparing a Contribution Format Income Statement. (LO 3-1) Wheeler Corporations most recent income statement follows.
| Total Per Unit | ||
| Sales (8,000 units) | $208,000 | $26.00 |
| Variable expenses | 244.000 | 18.00 |
| Contribution margin | 64.00 | $8.00 |
| Fixed expenses | 56.00 |
|
| Net Operating income | $8,000 |
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Required:
Prepare a new Contribution format income statement under each of the following conditions (consider each case independently):
1. The sales volume increases by 50 units
2. The sales volume declines by 50 units.
3. The sales volume is 7,000 units.
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Governmental Accounting Auditing And Financial Reporting
Authors: Michele Mark Levine, Todd Buikema
10th Edition
0891250107, 978-0891250104
