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The accountant of RAK Ceramics gathered the following for preparing income statement for the year ended December 31, 2018: Sales revenue AED 1,200,000 Beginning Merchandise
The accountant of RAK Ceramics gathered the following for preparing income statement for the year ended December 31, 2018: Sales revenue AED 1,200,000 Beginning Merchandise Inventory 220,000 Ending Merchandise Inventory 70,000 Merchandise Purchased 350,000 Administration expenses Fixed 200,000 Selling expenses Fixed 190,000 Selling Expenses Variable 400 per unit Administration expenses variable 300 per unit Selling price per unit (average) 6,000 per unit Complete the following Contribution Margin Income Statement based on the above information
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