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Topper Sports, Inc._Income Statement_Contribution Margin




Question;Topper Sports, Inc.;produces high quality sports equipment. The company?s Racket Division;manufactures three tennis rackets- the Student, the Deluxe, and the Pro- that;are widely used in amateur day. Selected information on the rackets is given;below;Standard;Selling Price per;racket: $43.00;Variable Expenses per;racket;Production: $17.20;Selling (5% of selling;price): $2.15;Deluxe;Selling Price per;Racket: $62.00;Variable Expenses Per;Racket;Production: $21.70;Selling (5% of selling;price): $3.10;Pro;Selling Price per;Racket: $87.00;Variable Expenses per;Racket;Production: $26.10;Selling (5% of selling;price): $4.35;All sales are made;through the company?s own retail outlets. The Racket Division has the following;fixed costs;Per Month;Fixed Production Costs;$107,000;Advertising Expense;$108,000;Administrative;Salaries: $52,000;Total: $267,000;Sales, in units, over;the past two months have been as follows;Standard (April): 4,000;Deluxe (April): 3,000;Pro (April): 7,000;Total (April): 14,000;Standard (May): 11,000;Deluxe (May): 3,000;Pro (May): 6,000;Total (May): 20,000;a. Prepare;contribution format income statements for April. (Round the ?Total percent?;answers to one decimal place. Input all amounts as positive values except;losses which should be indicated by minus sign. Omit the ?$? and ?%? signs in;your response).


Paper#38245 | Written in 18-Jul-2015

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