Topper Sports, Inc._Income Statement_Contribution Margin 2023 Business Finance
2023 Topper Sports Inc produces high quality sports equipment The company s Racket Division manufactures three tennis rackets the
Topper Sports, Inc. produces high quality sports equipment. The company’s Racket Division manufactures three tennis rackets- the Student, the Deluxe, and the Pro- that are widely used in amateur day. Selected information on the rackets is given below:
Standard
Selling Price per racket: $43.00
Variable Expenses per racket:
Production: $17.20
Selling (5% of selling price): $2.15
Deluxe
Selling Price per Racket: $62.00
Variable Expenses Per Racket:
Production: $21.70
Selling (5% of selling price): $3.10
Pro
Selling Price per Racket: $87.00
Variable Expenses per Racket:
Production: $26.10
Selling (5% of selling price): $4.35
All sales are made through the company’s own retail outlets. The Racket Division has the following fixed costs:
Per Month
Fixed Production Costs: $107,000
Advertising Expense: $108,000
Administrative Salaries: $52,000
Total: $267,000
Sales, in units, over the past two months have been as follows:
Standard (April): 4,000
Deluxe (April): 3,000
Pro (April): 7,000
Total (April): 14,000
Standard (May): 11,000
Deluxe (May): 3,000
Pro (May): 6,000
Total (May): 20,000
a. Prepare contribution format income statements for April. (Round the “Total percent” answers to one decimal place. Input all amounts as positive values except losses which should be indicated by minus sign. Omit the “$” and “%” signs in your response).
We give our students 100% satisfaction for their assignment, which is one of the most important reasons students prefer us from other helpers. Our professional group and planners have more than ten years of rich experience. The only reason that our inception days, we have helped more than 100000 students with their assignments successfully. Our expert’s group have more than 2200 professionals of different topics, and that not all; we get more than 300 jobs every day more than 90% of the assignment get the conversion for payment.
Place Order Now