Question
Mittri Inc., produces and sells milk chocolate and white chocolate bars. Revenue and cost information relating...
Mittri Inc., produces and sells milk chocolate and white chocolate bars. Revenue and cost information relating to the products are: Products Milk Chocolate White Chocolate Selling Price per bar $0.75 $2.00 Variable Expense per bar $0.45 $1.05 Traceable Fixed Expenses per year $11,600 $145,000 Common fixed expenses in the company total $162,000 annually. Last year the company produced and sold 492,600 milk chocolate bars and 250,300 white chocolate bars. Prepare a contribution format income statement for the year segmented by product lines. What is the net operating income for the year? a - $66,365 b - $55,567 c – $66,478 d – $78,900
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