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Handy's Hats makes the world's best hats. Information for the last eight months follows: Number...

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Accounting

Handy's Hats makes the world's best hats. Information for the last eight months follows: Number of Hats Total Month Produced Cost January 2,500 4,400 February 4,500 7,750 March 5,800 8,800 April 3,260 5,650 May 4,250 7,200 June 2,850 4,900 July August 6,000 9,010 2,300 4,200 Suppose that Handy's expects to sell 4,300 hats during the month of September and that each hat sells for $2.75. Handy performed a least-squares regression and obtained the following results: Intercept Xx Variable 1 Coefficients 1,214.36 1.34 Prepare Handy's contribution margin income statement for the month of September. (Round your answers to 2 decimal places.) Answer is complete but not entirely correct. HANDY'S HATS Contribution Margin Income Statement Month of September Sales Revenue Total Variable Costs $ 13,500.00 6,030.00 Contribution Margin $ 7,470.00 Total Fixed Costs 1,214.36 Net Operating Income $ 6,255.64

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