Reference no: EM132514629
During the past year, Pettay Enterprises had the following fixed costs:
Fixed manufacturing costs $112,000
Fixed marketing costs $43,000
Fixed administrative costs $18,000
The company also had the following variable costs:
Variable manufacturing costs $142,000
Variable marketing costs $37,000
Variable administrative costs $28,000
During the year, the company produced and sold 60,000 units of the product at a selling price of $7.00 per unit. The company had no inventory at the beginning of the year.
Required:
Question 1: Prepare a contribution margin income statement for the year.
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