Calculation of total variable cost and contribution income

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Reference no: EM13356045

Calculation of total variable cost and contribution income statement.

During 2007 the company manufactured 120,000 units and sold 145,000 units. Assume the same unit costs in all years. Total variable costs on the company's 2007 contribution income statement will be?

Magic Screen's contribution income statement utilizing variable costing appears below:

Sales ($30/unit)

 

$1,200,000

Less variable costs:

 

 

COGS

800,000

 

Selling & Admin

40,000

840,000

Contribution Margin

 

360,000

Fixed overhead

98,000

 

Fixed Selling & Admin

170,000

268,000

Net Income

 

$92,000

Magic Screen Company Income Statement For the Year Ended December 31, 2007

Magic Screen Company produced 49,000 units during the year.  Variable and fixed production costs have remained constant the entire year. There were no beginning inventories.

Hint:  Variable cost per unit is $0.25

Reference no: EM13356045

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