Brief Exercise 18-7 Radial Inc. had sales of $2,400,000 for the first quarter of 2014. In making the sales, the company incurred the costs and expenses shown below. Variable Fixed Cost of goods sold $920,000 $440,000 

Selling expenses 70,000 45,000 A

dministrative expenses 86,000 98,000 

Prepare a CVP income statement for the quarter ended March 31, 2014. RADIAL INC. CVP Income Statement For the Quarter Ended March 31, 2014, Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs $ Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs

Answer rating: 100% (QA)

Income Statement for R Inc For the quarter year Ended March 31 2014 Sales 2400000 Less ... View the full answer