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Problem:

Colen Corporation produces and sells a single product. In January, the company sold 1,700 units. Its total sales were $153,000, its total variable expenses were $79,900, and its total fixed expenses were $56,800.

Required:

Question 1: Construct the company's contribution format income statement for January in good form.

Question 2: Redo the company's contribution format income statement assuming that the company sells 1,600 units.

Note: Explain all steps comprehensively.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91164921

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