Preston Drycleaners has capacity to clean up to 6,000 garments per month. (Click the icon to...

 

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Preston Drycleaners has capacity to clean up to 6,000 garments per month. (Click the icon to view the cost schedule.) Assume that Preston charges customers $5 per garment for dry cleaning. Prepare Preston's projected income statement if 4,240 garments are cleaned in March. First, prepare the income statement using the traditional format; then prepare Preston's contribution margin income statement. Begin by preparing the projected income statement using the traditional format. (Round your answers to the nearest whole dollar. Enter losses with parentheses or a minus sign.) Preston Drycleaners Projected Income Statement Month Ended March 31 Less: XXX Next complete the projected contribution margin income statement. (Round your answers to the nearest whole dollar. Enter losses with parentheses or a minus sign.) Preston Drycleaners Projected Contribution Margin Income Statement Month Ended March 31 Less: Less: Data table Total variable costs Total fixed costs Total operating costs Variable cost per garment Fixed cost per garment Average cost per garment $ $ $ $ 3,000 Garments 1,500 $ 10,800 12,300 $ 0.50 $ 3.60 4.10 $ 4,500 Garments 2,250 $ 10,800 13,050 $ 0.50 $ 2.40 6,000 Garments 2.90 $ 3,000 10,800 13,800 0.50 1.80 2.30 Preston Drycleaners has capacity to clean up to 6,000 garments per month. (Click the icon to view the cost schedule.) Assume that Preston charges customers $5 per garment for dry cleaning. Prepare Preston's projected income statement if 4,240 garments are cleaned in March. First, prepare the income statement using the traditional format; then prepare Preston's contribution margin income statement. Begin by preparing the projected income statement using the traditional format. (Round your answers to the nearest whole dollar. Enter losses with parentheses or a minus sign.) Preston Drycleaners Projected Income Statement Month Ended March 31 Less: XXX Next complete the projected contribution margin income statement. (Round your answers to the nearest whole dollar. Enter losses with parentheses or a minus sign.) Preston Drycleaners Projected Contribution Margin Income Statement Month Ended March 31 Less: Less: Data table Total variable costs Total fixed costs Total operating costs Variable cost per garment Fixed cost per garment Average cost per garment $ $ $ $ 3,000 Garments 1,500 $ 10,800 12,300 $ 0.50 $ 3.60 4.10 $ 4,500 Garments 2,250 $ 10,800 13,050 $ 0.50 $ 2.40 6,000 Garments 2.90 $ 3,000 10,800 13,800 0.50 1.80 2.30

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