Solution-Recast the income statement in contribution format

Recast the income statement in contribution format

Reference no: EM13512954

For the month of August 19A, Updike Co. presented the following income statement:

UPDIKE CO.

Income Statement

For the Month Ended August 31, 19A

Sales (1,000 units @ $50)	$50,000
Less: Cost of Goods Sold (60% variable)	20,000
Gross Margin	$30,000
Less: Operating Expenses
Selling and Administrative (30% variable)	25,000
Net Income	$ 5,000

Recast the income statement in contribution format.

Reference no: EM13512954

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Recast the income statement in contribution format

Reference no: EM13512954

Reference no: EM13512954

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