Contribution Income Statement and Cost-Volume-Profit Graph Kopi Company produces dog cages that are sold for $35 per unit. The company produced and sold 7,000 dog cages during July 2017. There were no beginning or ending inventories. Variable and fixed costs follow.
Variable Costs per Unit Fixed Costs per Month
Manufacturing: Manufacturing overhead $35,000
Direct materials $10 Selling and administrative 15,000
Direct labor 2 Total $50,000
Manufacturing overhead 5 $17
Selling and administrative 5
Total $22
Required
Prepare a contribution income statement for July.
Do not use any negative signs with your answers.
Kopi Company
Contribution Income Statement
For the Month of July 2017
Sales $ Answer
Less variable costs
Direct materials $ Answer
Direct labor Answer
Manufacturing overhead Answer
Selling and administrative Answer Answer
Contribution margin Answer
Less fixed cost:
Manufacturing overhead Answer
Selling and administrative Answer Answer
Profit $ Answer

How does knowing about supply and demand

Actual usage for the year by the marketing department was 70,000 copies and by the operations department was 330,000 copies. if a dual-rate cost-allocation method is used, what amount of copying facility costs will be budgeted for the operations department?

Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)