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Following is a traditional income statement for Mouse Max, a company that manufactures cordless mice for computers.
Revenue $2,500,000
Cost of goods sold $1,200,000
Gross margin $1,280,000
Selling and administration $1,150,000
Operating income $130,000
The income statement reflects sales of 100,000 mice. Direct materials cost $5.00 per mice, direct labor was $1.00 per mice, and sales commissions were $1.50 per mouse. Advertising costs totaled $200,000. All manufacturing overhead costs are fixed.
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