1. Assume the following data concerning the operation of the Mambo Company for the month of September:
|
Number of units sold |
100 |
|
Selling price per unit |
$20 |
|
Variable manufacturing costs/unit |
$5 |
|
Fixed manufacturing costs |
$300 |
|
Variable selling and administrative cost/unit |
$4 |
|
Fixed selling and administrative cost |
$110 |
Prepare an income statement for the month of September, using the traditional and contribution formats.