Einstein, Inc. had the following income statement for last period:
If costs of sales was 75% variable and 25% fixed, and Selling and General Expense was 60% variable and 40% fixed, prepare a contribution format income statement and calculate its contribution margin percentage.

Question

Einstein, Inc. had the following income statement for last period:
  If costs of sales was 75% variable and 25% fixed, and Selling and General Expense was 60% variable and 40% fixed, prepare a contribution format income statement and calculate its contribution margin percentage.

Quizplus · Accepted Answer

The Answer of Einstein, Inc. had the following income statement for last period:
  If costs of sales was 75% variable and 25% fixed, and Selling and General Expense was 60% variable and 40% fixed, prepare a contribution format income statement and calculate its contribution margin percentage.