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Ivanhoe Inc. had a bad year in 2024. For the first time in its history,...

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Accounting

Ivanhoe Inc. had a bad year in 2024. For the first time in its history, it operated at a loss. The company's income statement showed the following results from selling 86,400 units of product: net sales $2,160,000; total costs and expenses $2,413,800; and net loss $253,800. Costs and expenses consisted of the following.
\table[[,Total,Variable,Fixed],[Cost of goods sold,$1,693,440,$1,134,000,$559,440
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