Variable costing income statement Sports Drinks, Inc. began business in the current year selling bottles of...

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Variable costing income statement Sports Drinks, Inc. began business in the current year selling bottles of a thirst-quenching drink. Production for the first year was 249,600 bottles, and sales were 235,200 bottles. The selling price per bottle was $3.10. Costs incurred during the year were as follows: Ingredients used Direct labor Variable overhead Fixed overhead Variable selling expenses Fixed selling and administrative expenses Total actual cost For the year: $134,400 62,400 115,200 12,480 24,000 67,200 $415,680 a. What was the production cost per bottle under variable costing? $ 1.25 b. What was variable cost of goods sold? $294,000 c. What was the contribution margin per bottle? Note: Round your answer to two decimal places (for example, round $2.455 to $2.46). $ 1.85 x d. What was the contribution margin ratio? Note: Round your answer to the nearest whole percentage point. 60 % Variable costing income statement Sports Drinks, Inc. began business in the current year selling bottles of a thirst-quenching drink. Production for the first year was 249,600 bottles, and sales were 235,200 bottles. The selling price per bottle was $3.10. Costs incurred during the year were as follows: Ingredients used Direct labor Variable overhead Fixed overhead Variable selling expenses Fixed selling and administrative expenses Total actual cost For the year: $134,400 62,400 115,200 12,480 24,000 67,200 $415,680 a. What was the production cost per bottle under variable costing? $ 1.25 b. What was variable cost of goods sold? $294,000 c. What was the contribution margin per bottle? Note: Round your answer to two decimal places (for example, round $2.455 to $2.46). $ 1.85 x d. What was the contribution margin ratio? Note: Round your answer to the nearest whole percentage point. 60 %

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1 To find the production cost per bottle under variable costing we need to divide the total variable ... View the full answer