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TSC Company sold 2,000 units during July 2020 for $15 each and generated a net income of $9,600. During the month, the following costs occurred:
TSC Company sold 2,000 units during July 2020 for $15 each and generated a net income of $9,600. During the month, the following costs occurred: Cost of Goods Sold Insurance Ixpense Delivery Expense Depreciation Expense Shipping Expense $5 per unit s100 per month $3 per unit $100 per month $200 per month + $??? per unit Determine the amounts of: Variable element of the shipping expense Your answer Total variable expense per unit * Your answer Total fixed expense * During August, the company sold 1,200 units, determine the total amounts of the contribution format income statement's accounts: Sales revenue * Your answer Variable expenses Your answer Contribution margin Your answer Fixed expenses Net income* Your answer Mark opened his clothes factory on June 2020. To start the production; material of $5,000 were purchased from which70% were used in production. Of the material put into production during June, 50% were completed and transferred to the company's storage lot. Forty percent of the completed clothes were sold by June 30. Determine the balance that would appear in each of the following accounts at June 30, 2020. Raw Materials Your answer Work in process * Your answer Finished Goods * Cost of Goods Sold * Your
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