The most recent monthly contribution format income statement for Reston Company is given below: ...
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Accounting
| The most recent monthly contribution format income statement for Reston Company is given below: |
| Reston Company Income Statement For the Month Ended May 31 | ||||
| Sales | $ | 900,000 | 100.0 | % |
| Variable expenses | 300,000 | 33.3 | ||
| Contribution margin | 600,000 | 66.7 | ||
| Fixed expenses | 495,000 | 55.0 | ||
| Net operating income | $ | 105,000 | 11.7 | % |
| Management is disappointed with the company |
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