You have been provided the following information by Mehal and Rahul Emporium.

Sales

Direct Labour - Variable

Direct Labour - Fixed

Administration Staff - Wage Expense

Administration Staff - Salary Expense

Advertising Staff - Salary Expense

Advertising Staff - Wage Expense

Direct Material - Fixed

Direct Material - Variable

Manufacturing Overhead - Variable

Manufacturing Overhead - Fixed

Janitorial Staff for Sales Office- Wage Expense

700.000

100,000

150.000

35,000

45,000

55,000

50,000

80,000

60.000

20,000

25,000

30,000

Using this information, complete the two tables below. You are not required to list each individual accounts such as Administration Staff - Wage Expense or Direct Labour - Fixed. Select

the name of the total line such as Fixed Costs or Variable Costs and the dollar amount opposite it

Table A is the Income Statement prepared using the Gross Margin Format

Table B is the Income Statement prepared using the Contribution Margin Format

Answer:

TABLE A INCOME STATEMENT USING THE GROSS MARGIN FORMAT

SALES

Answer:

TABLE A INCOME STATEMENT USING THE GROSS MARGIN FORMAT

SALES

NET INCOME

TABLE B INCOME STATEMENT USING THE CONTRIBUTION MARGIN FORMAT

SALES

V

Remaining Time: 1 hour, 42 minutes, 23 seconds. Question Completion Status: TABLE A INCOME STATEMENT USING THE GROSS MARGIN FORMAT SALES Question Completion Status: You have been provided the following information by Mand Rahul Emporium 700,000 Sales Direct Labour - Variable Direct Labour. Fixed Administration Staff - Wage Expense Administration Staff - Salary Expense Advertising Staff - Salary Expense Advertising Staff - Wage Expense Direct Material - Fixed Direct Material - Variable Manufacturing Overhead - Variable Manufacturing Overhead - Fixed Janitorial Staff for Sales Office. Wage Expense 100,000 150,000 35,000 45,000 55,000 50,000 80,000 60,000 20,000 25,000 30,000 DEARDEN 10'C Cloudy