DeLuxe Limo Service has the following information for March:

Required
a. Using the traditional income statement format, prepare a value income statement.
b. What value would there be to the managers at DeLuxe from preparing the same information in April?

Transcribed Image Text:

$250,000 75,000 100,000 20,000 i,000 12,500 2 Sales revenue 3 Variable costs of operations, excluding labor costsa 4 Employee wages and salaries 5 Manager salaries cost of automobiles 6 Fixed 7 Building costs (rent, utilities, etc.) e 8 9 5 percent of this cost was wasted due to poor directions given to limo drivers 105 pnt of this cost was for time spent by limo drivers because of poor directions. 11 C10 percent of this cost was time taken to address customer complaints. 12 The limos have 40 percent unused capacity 13 "The building has 10 percent unused capacity 14