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Variable and fixed cost Variable and fixed cost Solution A Contribution Margin Income Statement Herrestad Company For year 2011 Price Per Unit $250.00 Number of Units Sold 8000 Total Sales $2,000,000 Less: Variable Production Costs $1,440,000 Less: Variable Selling Costs $80,000 Total Variable Costs $1,520,000 Contribution Margin $480,000 Less: Fixed Production Costs $200,000 Less: Fixed Selling and Administrative Costs $100,000 Total Fixed Costs $300,000 Income Before Taxes $180,000 Explanation of the difference in net income of the company As given in the data, the net income from absorption costing is $220000, whereas, the contribution margin net income of the company is $180,000. This, difference of $40, 000 is briefly explained as follows (Linda, 2008). For the current fiscal year, ...
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