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Olongapo Sports Corporation distributes two premium golf ballsFlight Dynamic and Sure Shot. Monthly sales and...

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Accounting

Olongapo Sports Corporation distributes two premium golf ballsFlight Dynamic and Sure Shot. Monthly sales and the contribution margin ratios for the two products follow:

Product Total Flight Dynamic Sure Shot

Sales $ 670,000 $330,000 $1,000,000

CM ratio 62% 72% ?

Fixed expenses total $591,000 per month.

Required:

1. Prepare a contribution format income statement for the company as a whole.

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