Required assuming the company produced and sold 5000 units

Reference no: EM13578311

The cost accountant for the Larsen Manufacturing Co. has provided you with the following information for the month of July:

Variable.Cost per unit Total Fixed Costs

Direct Labor $27.50
Direct Materials 84.75
Manufacturing Overhead 14.25 $120,000
Marketing Costs 5.30 50,000
Administrative Costs 2.90 75,000
Selling Price 210.00

Required: Assuming the company produced and sold 5,000 units, and there were no units in inventory on July1, prepare the following income statements for the month of July:

(a) Contribution margin income statement

(b) Gross margin income statement

Reference no: EM13578311

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