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Gross Margin and Contribution Margin Income Statements
Tosca Beverages Reports the following information for July:
Units produced and sold 18,800.00Per unit revenue and costs:Sales revenue $3.20Direct material costs 0.20Direct labor costs 0.16Variable manufacturing overhead 0.06Fixed manufacturing overhead basedon a volume of 18,000 unites 0.92Variable marketing and administrative costs 0.48Fixed marketing and administrative costsbased on a volume of 18,000 unites 1.00
Required:
Prepare:
A. A gross margin income statement
B. A contribution margin income statement
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