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Lorge company bottles and distributes livit a diet soft

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Lorge Company bottles and distributes Livit, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2011, management estimates the following revenues and costs.

  • Net sales $1,800,000 Selling expenses-variable $70,000
  • Direct materials 430,000 Selling expenses-fixed 65,000
  • Direct labor 352,000 Administrative expenses-variable 20,000
  • Manufacturing overhead-variable 316,000 Administrative expenses-fixed 60,000
  • Manufacturing overhead-fixed 283,000

Prepare a CVP income statement for 2011 based on management's estimates. (List amounts from largest to smallest e.g. 10, 5, 3, 2. Enter all amounts as positive amounts and subtract where necessary.)

Reference no: EM13601129

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