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Use the information provided below and manually (i.e. no computer but hand written then scanned) prepare TWO income statements: an absorption income statement and
Use the information provided below and manually (i.e. no computer but hand written then scanned) prepare TWO income statements: an absorption income statement and a variable income statement (with correct titles, dollar signs, and underlines). Please list every individual expense item. Also, determine: (1) the break-even in units and dollars, (2) explain what the calculated contribution margin means for this company, (3) what is the expected margin of safety in dollars and as a percentage of sales and explain what these numbers mean for the company. Since this is to be done manually (i.e. NO computer) neatness is a must and points will be deducted for form and neatness. Use the multiple-step income statement form on page 254 of our text. This assignment must be scanned and upload file submitted similar to the way you submitted PaddleBoard. This must not be submitted in a word or excel program but must be HAND WRITTEN!! Contribution margin, break-even sales, cost-volume-profit chart, margin of safety, and operating leverage
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