Question: Sandy's Socks makes the world's best socks. Sandy performed a least-squares regression of the information for the last eight months and obtained the following results.

Sandy's Socks makes the world's best socks. Sandy performed a least-squares regression of the information for the last eight months and obtained the following results.

Sandy performed a least-squares regression and obtained the following results.
Coefficients
Intercept 5,514.22
X Variable 1 1.97
Suppose that Sandy's expects to sell 3,200 socks during the month of September and that each sock sells for $3.00.
Complete Sandy's contribution margin income statement for the month of September.
SANDY'S SOCKS
contribution margin Income Statement
Month of September
contribution margin
Net Operating Income

Number of Total Cost Month Socks Produced 9,000 January 1,800 February 4,890 15,648 March 10,350 2,300 3,250 April 11,375 May 4,300 13,845 June 2,800 11,200 5,600 16,410 July 14,400 August 4,500

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