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Contribution Margin Income Statement. Last year Pod Products, Inc., sold its product for $250 per unit. Production costs totaled $40,000 (25 percent fixed, 75 percent variable). Selling and administrative costs totaled $150,000 (10 percent fixed, 90 percent variable). Pod Products produced and sold 1,000 units last year.
Required:
Question 1: Create a contribution margin income statement for Pod Products, Inc.
Fill in the Blanks below:
Sales
Variable Costs
Cost of Goods Sold
Selling and Administrative Costs
Total Variable Costs -
Contribution Margin -
Fixed Costs
Total Fixed Costs -
Operating Profits -
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