Explain the companies contribution margin income statement, Accounting Basics

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Explain the companies contribution margin income statement

During its most recent fiscal year, Simon Enterprises sold 290,000 electric screwdrivers at a price of $17.70 each. Fixed costs amounted to $841,000 and pretax income was $1,131,000. What amount should have been reported as variable costs in the company's contribution margin income statement for the year in question?

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Accounting Basics: Explain the companies contribution margin income statement

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Request for Solution File

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Accounting Basics: Explain the companies contribution margin income statement

Reference No:- TGS0688374

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : How to drop the sporting goods department

Q : What was the predetermined overhead allocation rate

Q : Calculate the equivalent units of production for the month

Q : Uses a capital intensive production process

Q : Explain the companies contribution margin income statement

Q : What is the basic premise of target costing

Q : Usage of other production operating managers

Q : Determine how many units must be sold

Q : What is the target cost per opener

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Explain the companies contribution margin income statement

Reference No:- TGS0688374

Recent Questions Asked Accounting Basics

Q : How to drop the sporting goods department

Q : What was the predetermined overhead allocation rate

Q : Calculate the equivalent units of production for the month

Q : Uses a capital intensive production process

Q : Explain the companies contribution margin income statement

Q : What is the basic premise of target costing

Q : Usage of other production operating managers

Q : Determine how many units must be sold

Q : What is the target cost per opener

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