During the past year, Pettay Enterprises had the following fixed costs:
The company also had the following variable costs:
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: Prepare a contribution margin income statement for the year.

Question

During the past year, Pettay Enterprises had the following fixed costs:
  The company also had the following variable costs:
  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: Prepare a contribution margin income statement for the year.

Quizplus · Accepted Answer

The Answer of During the past year, Pettay Enterprises had the following fixed costs:
  The company also had the following variable costs:
  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: Prepare a contribution margin income statement for the year.

During the Past Year, Pettay Enterprises Had the Following Fixed