Question: BRIEF EXERCISE 6-5 Understanding Cost Behaviour and Contribution Margin [L01 - CC1, 3; L03 - CC12] Murugan Ltd. had the following results for the year:

BRIEF EXERCISE 6-5 Understanding Cost Behaviour and Contribution Margin [L01 -

BRIEF EXERCISE 6-5 Understanding Cost Behaviour and Contribution Margin [L01 - CC1, 3; L03 - CC12] Murugan Ltd. had the following results for the year: Sales $45,000 39,000 Less: Operating expenses Net operating income $ 6,000 The average selling price for the units sold was $15 per unit and average variable cost $9 per unit. Required: Prepare a contribution margin income statement

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