) Dodge Industries incurs the following costs during the current year: Depreciation...
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Accounting
) Dodge Industries incurs the following costs during the current year:
| Depreciation of Machinery | $15,000 |
| Direct labor | 6,000 |
| Direct materials | 4,000 |
| Executive salaries | 20,000 |
| Insurance | 2,000 |
| Rent on building | 8,000 |
| Factory supplies | 10,000 |
| Vehicle lease cost | 5,000 |
Sales for the year were $80,000 and Dodge determined that only the direct production costs and factory supplies are to be classified as variable costs; all other costs are classified as fixed costs. Dodge sold 400 units.
(a)Using excel, make a Contribution margin Income Statement. Calculate the unit contribution margin and the contribution margin ratio for Dodge
Industries.
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