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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

select an income statement item

Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable ExpensesGross Profit

$enter a dollar amount
select an opening name for section one

Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable ExpensesGross Profit

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 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    

enter a total amount for section one
select a summarizing line for the first part

Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable ExpensesGross Profit

enter a total amount for the first part
select an opening name for section two

Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable ExpensesGross Profit

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 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    

enter a total amount for section two
select a closing name for this statement

Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable ExpensesGross Profit

$enter a total net income or loss amount

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