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melamori03 [73]
4 years ago
6

Current Attempt in Progress Restate the following income statement for a retailer in contribution format. Sales revenue ($100 pe

r unit) $ 66,000 Less cost of goods sold ($56 per unit) 36,960 Gross margin 29,040 Less operating costs: Commissions expense ($6 per unit) $ 3,960 Salaries expense 7,900 Advertising expense 5,800 Shipping expense ($3 per unit) 1,980 19,640 Operating income $ 9,400
Business
1 answer:
Komok [63]4 years ago
5 0

Answer:

<u>Contribution Margin Income Statement for the year end MM DD, YY</u>

                                                                      $                $

Sales revenue ($100 per unit)                                    66,000

Less: Variable Cost

Less cost of goods sold ($56 per unit)   36,960

Commissions expense ($6 per unit)         3,960

Shipping expense ($3 per unit)               <u>  1,980  </u>

                                                                                   <u>  42,900 </u>

Contribution Margin                                                    23,100

Less: Fixed Cost

Salaries expense                                        7,900

Advertising expense                                <u>  5,800  </u>

                                                                                   <u>  13,700 </u>

Net Income                                                                 <u>  9,400</u>

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As the owner of a party store, you have decided to lower the price for all balloons this month. What do you expect to happen?
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