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AJ Manufacturing Company incurred $53,500 of fixed product cost and $42,800 of variable product cost...

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Accounting

AJ Manufacturing Company incurred $53,500 of fixed product cost and $42,800 of variable product cost during its first year of operation. Also during its first year, AJ incurred $17,050 of fixed and $13,700 of variable selling and administrative costs. The company sold all of the units it produced for $174,000.

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Prepare an income statement using the format required by generally accepted accounting Principles (GAAP Prepare an income statement using the contribution margin approach

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