Problem:
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.