Required Prepare a CVP income statement Prepare a GAAP income statement Kingbird Corporation had sales of $3,000,000

 

Required

Prepare a CVP income statement

Prepare a GAAP  income statement

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Kingbird Corporation had sales of $3,000,000 for the year ended December 31, 2022. The unit selling price was $15. In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Variable $574,000 122,000 234,000 Fixed $770,000 63,000 79,000 Kingbird Corporation had sales of $3,000,000 for the year ended December 31, 2022. The unit selling price was $15. In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Variable $574,000 122,000 234,000 Fixed $770,000 63,000 79,000

Answer rating: 100% (QA)

CVP Income Statement Sales Revenue 3000000 units sold 15unit selling price 45000000 Variable Costs C... View the full answer