Fanelli Corporation, a merchandising company, reported the following results for July: Number of units...
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Accounting
Fanelli Corporation, a merchandising company, reported the following results for July:
Number of units sold5,400Selling price per unit$590Unit cost of goods sold$406Variable selling expense per unit$58Total fixed selling expense$124,900Variable administrative expense per unit$28Total fixed administrative expense$206,800
Cost of goods sold is a variable cost in this company.
Required:
traditional format income statement for July.
contribution format income statement for July.
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