Reference no: EM132574939
Question 1: Preparing a contribution margin income statement using this data:
O'Neill's Products began operations this year. Cost, sales, and production information for the company and its single product is as follows:
Selling price per unit is $65,
Units manufactured were 14,000 and units sold for the year were 12,000 units
Variable manufacturing costs per unit manufactured (includes direct materials [DM], direct labor [DL], and variable MOH) $35
Variable operating expenses per unit sold $2
Fixed manufacturing overhead (MOH) in total for the year $132,000
Fixed operating expenses in total for the year $85,000
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