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The Riley company uses variable costing. There are no beginning or ending inventories You are provided with the following data for the year end December

The Riley company uses variable costing. There are no beginning or ending inventories You are provided with the following data for the year end December 31, 2010:

Sales $900,000 Direct Materials $300,000 Direct Labour $200,000 Variable Indirect Manufacturing Costs $100,000 Fixed Selling and Admin Expenses $75,000 A) Prepare a contribution income statement in good form.

B) What are the Prime Costs?

C) What are the Conversion Costs?

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