Prepare a CVP income statement for the quarter ended March 3…
Radial Inc. had sales of $2,400,000 for the first quarter of 2014. In making the sales, the company incurred the costs and expenses shown below.
Variable
Fixed
Cost of goods sold
$920,000
$440,000
Selling expenses
70,000
45,000
Administrative expenses
86,000
98,000
Prepare a CVP income statement for the quarter ended March 31, 2014.
