Problem: CVP format income statement
Sales (100 units) $10000
Direct labor $1500
Direct Materials 1400
Factory overhead variable 1000
Selling expenses variable 600
Administrative Expenses variable 500
Total Variable Expenses 5000
Contribution margin $5000
Fixed Costs
Factory overhead fixed $500
Selling Expenses fixed 1000
Administrative expenses fixed 1000
Total fixed expenses 2500
Net income $2500
JIT production system no raw materials, WIP or finished goods inventories. Cost expected to stay the same for FY with exception of fixed factory overhead is budgeted to increase by $1700.
Required: How to determine cost of goods sold and breakeven points in units.
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