Question:Problem 22-03A (Part Level Submission)
Blossom Company bottles and distributes B-Lite, a diet soft drink.
The...
Question
Problem 22-03A (Part Level Submission)
Blossom Company bottles and distributes B-Lite, a diet soft drink.
The...
Problem 22-03A (Part Level Submission)
Blossom Company bottles and distributes B-Lite, a diet soft drink.
The beverage is sold for 50 cents per 16-ounce bottle to retailers,
who charge customers 75 cents per bottle. For the year 2020,
management estimates the following revenues and costs.
Sales
$1,950,000
Selling expenses—variable
$67,000
Direct materials
550,000
Selling expenses—fixed
61,000
Direct labor
350,000
Administrative expenses—variable
28,000
Manufacturing overhead—variable
370,000
Administrative expenses—fixed
59,250
Manufacturing overhead—fixed
260,000
(a)
Prepare a CVP income statement for 2020 based on management’s
estimates.
BLOSSOM COMPANY
CVP Income Statement (Estimated) For the Year Ending December 31, 2020
Administrative
Expenses Contribution
Margin Cost of Goods
Sold Fixed
Expenses Net
Income/(Loss) Sales Selling
Expenses Total Fixed
Expenses Total Variable
Expenses Variable
Expenses Gross
Profit
$enter a dollar amount
select an income statement item
Administrative
Expenses Contribution
Margin Cost of Goods
Sold Fixed
Expenses Net
Income/(Loss) Sales Selling
Expenses Total Fixed
Expenses Total Variable
Expenses Variable
Expenses Gross
Profit
enter a dollar amount
select an income statement item
Administrative
Expenses Contribution
Margin Cost of Goods
Sold Fixed
Expenses Net
Income/(Loss) Sales Selling
Expenses Total Fixed
Expenses Total Variable
Expenses Variable
Expenses Gross
Profit
enter a dollar amount
select a closing name for section one
Administrative
Expenses Contribution
Margin Cost of Goods
Sold Fixed
Expenses Net
Income/(Loss) Sales Selling
Expenses Total Fixed
Expenses Total Variable
Expenses Variable
Expenses Gross
Profit
Administrative
Expenses Contribution
Margin Cost of Goods
Sold Fixed
Expenses Net
Income/(Loss) Sales Selling
Expenses Total Fixed
Expenses Total Variable
Expenses Variable
Expenses Gross
Profit
enter a dollar amount
select an income statement item
Administrative
Expenses Contribution
Margin Cost of Goods
Sold Fixed
Expenses Net
Income/(Loss) Sales Selling
Expenses Total Fixed
Expenses Total Variable
Expenses Variable
Expenses Gross
Profit
enter a dollar amount
select an income statement item
Administrative
Expenses Contribution
Margin Cost of Goods
Sold Fixed
Expenses Net
Income/(Loss) Sales Selling
Expenses Total Fixed
Expenses Total Variable
Expenses Variable
Expenses Gross
Profit
enter a dollar amount
select a closing name for section two
Administrative
Expenses Contribution
Margin Cost of Goods
Sold Fixed
Expenses Net
Income/(Loss) Sales Selling
Expenses Total Fixed
Expenses Total Variable
Expenses Variable
Expenses Gross
Profit