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Prepare a cvp income statement based on these estimates

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Question - Best Harmonica Company manufactures and sells harmonicas to distributors. The model they produce sells to the distributors for $8.00 each. Following are cost estimates:

Sales - $3,480,000

Direct materials - 543,750

Direct labor - 761,250

Manufacturing overhead-variable - 152,250

Manufacturing overhead-fixed - 640,000

Selling expenses-variable - 78,300

Selling expenses-fixed - 300,000

Administrative expenses-variable - 47,850

Manufacturing overhead-fixed - 185,000

Prepare a CVP income statement based on these estimates. First complete the Sales portion.

Reference no: EM131869555

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