Naylor Manufacturing Inc. sold 8,350 units and recorded sales of $626,250 for the first month of 2020. In making the sales, the company incurred the following costs and expenses.

		Variable		Fixed
Cost of goods sold		$325,450		$61,500
Selling expenses		40,000		33,100
Administrative expenses		10,300		39,200

Prepare a CVP income statement for the month ended January 31, 2020.

NAYLOR MANUFACTURING INC. CVP Income Statement choose the accounting period January 31, 2020For the Month ended January 31, 2020For the Year ended January 31, 2020
		Total		Per Unit
select a CVP income statement item Sales Operating income Variable costs Contribution margin Fixed expenses		$enter a dollar amount		$enter a dollar amount
select a CVP income statement item Fixed expenses Sales Contribution margin Operating income Variable costs		enter a dollar amount		enter a dollar amount
select a CVP income statement item Operating income Sales Contribution margin Variable costs Fixed expenses		enter a subtotal of the two previous amounts		$enter a total amount
select a CVP income statement item Contribution margin Variable costs Fixed expenses Operating income Sales		enter a dollar amount
select a closing name for this statement Operating income Variable costs Sales Fixed expenses Contribution margin		$enter a total amount for this statement

List of Accounts

Question Part Score

--/4

Calculate the contribution margin per unit.

Contribution margin

$enter the Contribution margin per unit in dollars

per unit

List of Accounts

Question Part Score

--/0.5

Calculate the contribution margin ratio.

Contribution margin ratio

enter the Contribution margin ratio in percentages

%

Answer rating: 100% (QA)

Part 1 Naylor CVP Income Statement For the month ended January 31 2020 Total Per ... View the full answer