Prepare a CVP income statement for the quarter ended March 31, 2012. 1 answer below »

Sylvia Manufacturing Inc. had sales of $1,800,000 for the first quarter of 2012. In making the sales, the company incurred the following costs and expenses.

Variable

Fixed

Cost of goods sold

$760,000

$540,000

Selling expenses

95,000

60,000

Administrative expenses

79,000

66,000

Prepare a CVP income statement for the quarter ended March 31, 2012.

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