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    Bruno Manufacturing: Complete a CVP income statement

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    Bruno Manufacturing Inc. has sales of $2,200,000 for the first quarter of 2010. In making the sales, the company incurred the following costs and expenses.

    Variable Fixed
    Cost of goods sold $920,000 $440,000
    Selling expenses 70,000 45,000
    Administrative expenses 86,000 98,000

    Complete the CVP income statement for the quarter ended March 31, 2010.


    CVP Income Statement
    For the Quarter Ended March 31, 2010

    Sales Fixed costs Variable costs $
    Variable costs Fixed costs Sales

    Contribution Margin
    Fixed costs Variable costs Sales

    Net income $

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    CVP Income statement

    Sales $2,200,000
    Less: Variable costs
    Cost of ...

    Solution Summary

    The expert completes a CVP income statement for Bruno Manufacturing.