BE18-7 Radial Manufacturing Inc. had sales of $2,200,000 for the first quarter
BE18-7 Radial Manufacturing Inc. had sales of $2,200,000 for the first quarter of 2012. In making the sales, the company incurred the following costs and expenses.
Variable
Fixed
Cost of goods sold
$920,000
$440,000
Selling expenses
70,000
45,000
Administrative expenses
86,000
98,000
Prepare a CVP income statement for the quarter ended March 31, 2012.