T raditional income statement Sales $ 1 1 6 , 5 2 8 6 , 5 2
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Question:
Traditional income statement Sales $ 16,528
Variable costs:
Direct Materials $ 1,764
Direct Labor $ 2,587
Manufacturing Overhead $ 952
Variable selling $ 895
Variable administrative $ 663
Fixed costs:
Fixed selling $ 3,354
Fixed administrative $ 1,127
Fixed Manufacturing Overhead $ 638
Required:
Complete a traditional format income statement and a contribution format income statement.
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