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Question 3

Multiple Choice

SheridanManufacturing Inc. had sales of $2.85 million for the first quarter of 2022. In making the sales, the company incurred the following costs and expenses:

Variable

Fixed

Cost of goods sold

$902,500

$444,500

Selling expenses

74,500

40,000

Administrative expenses

87,500

98,000

Question 4

Multiple Choice

Question 5

Multiple Choice

Question 6

Multiple Choice

Prepare a CVP income statement for the quarter ended March 31, 2022.