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The condensed statement of income of the Peri & Paul partnership for the year 2017 is as follows: PERI & PAUL COMPANY Income Status
The condensed statement of income of the Peri & Paul partnership for the year 2017 is as follows: PERI & PAUL COMPANY Income Status For the year ended December 31, 2017 Sales (240,000 units) Cost of Goods Sold (COGS) Gross profit Operational expenses: $1,200,000 800,000 400,000 selling expenses $280,000 Administrative expenses $150,000 430,000 Not loss ($30,000) An analysis of cost behavior indicates that the following are variables: 75% of cost of goods sold, 50% of selling expenses, and 25% of administrative expenses. Case instructions: Round to the nearest unit, nearest percent, or nearest dollar, or to the nearest percent. Submit the income statement in the cost-volume earnings format, CVG (CVP income statement), with the computation of earnings. A. Compute the break-even point (BEP-) of sales in units and dollars for the year 2017
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