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Prepare a contribution format income statement for the year

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Reference no: EM131813520

Question - Caltec, Inc., produces and sells recordable CD and DVD packs. Revenue and cost information relating to the products follow:

Product CD DVD

Selling price per pack $ 8.00 $ 25.00

Variable expenses per pack $ 3.20 $ 17.50

Traceable fixed expenses per year $ 138,000 $ 45,000

Common fixed expenses in the company total $105,000 annually. Last year the company produced and sold 37,500 CD packs and 18,000 DVD packs.

Required: Prepare a contribution format income statement for the year segmented by product lines.

Reference no: EM131813520

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