Income statement using marginal costing method?
Prepare income the statement using marginal costing method based on following info
Inventory - nil
Production - 27000
Sales - 23000
Fixed manufacturing cost - 120000
Variable manufacturing cost per unit - 21.00
Selling price - 50.00
Marketing cost
Advertising - 6000
Sales personnel salaries and commission - 8000 per month plus 5% of sales
Delivery cost - 5.00
Administration cost
Salaries - 18000 per month
Other office costs - 7000 per month plus 3.00 per unit sold