Contribution Income Statement and Cost$-$Volume$-$Profit Graph

Kopi Company produces dog cages that are sold for $$40$ per unit. The company produced and sold $6,000$ dog cages during July $2017.$ There were no beginning or ending inventories. Variable and fixed costs follow.

Variable Costs per Unit Fixed Costs per Month

Manufacturing: Manufacturing overhead $$40,000$

Direct materials $$10$ Selling and administrative $20,000$

Direct labor $2$ Total $$60,000$

Manufacturing overhead $5$ $$17$

Selling and administrative $5$

Total $$22$

Required

Prepare a contribution income statement for July.

Do not use any negative signs with your answers.

Kopi Company

Contribution Income Statement

For the Month of July $2017$

Sales Answer

Less variable costs

Direct materials Answer

Direct labor Answer

Manufacturing overhead Answer

Selling and administrative Answer

Answer

Contribution margin Answer

Less fixed cost:

Manufacturing overhead Answer

Selling and administrative Answer

Answer

Profit Answer