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Presented is Violet Companys Contribution Income Statement:
VIOLET COMPANY
Contribution Income Statement
For the Month Ending January 31, 2020
Sales
$200,000
Less variable costs:
Direct materials
$50,000
Direct labor
20,000
Variable factory overhead
60,000
Variable S&A expenses
12,000
(142,000)
Contribution margin
$ 58,000
Less fixed costs:
Factory overhead
$13,000
Fixed S&A expenses
12,000
(25,000)
Net income
$ 33,000
With a functional income statement, Violet would have reported a gross margin of:
Select one:
A. $57,000
B. $58,000
C. $33,000
D. $70,000
VIOLET COMPANY
Contribution Income Statement
For the Month Ending January 31, 2020

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Presented is Violet Company�s Contribution Income StatementVIOLET.pdf

  • 1. Presented is Violet Companys Contribution Income Statement: VIOLET COMPANY Contribution Income Statement For the Month Ending January 31, 2020 Sales $200,000 Less variable costs: Direct materials $50,000 Direct labor 20,000 Variable factory overhead 60,000 Variable S&A expenses 12,000 (142,000) Contribution margin $ 58,000
  • 2. Less fixed costs: Factory overhead $13,000 Fixed S&A expenses 12,000 (25,000) Net income $ 33,000 With a functional income statement, Violet would have reported a gross margin of: Select one: A. $57,000 B. $58,000 C. $33,000 D. $70,000 VIOLET COMPANY Contribution Income Statement For the Month Ending January 31, 2020