Pharoah Inc. had sales of $2,320,000 for the first quarter of 2022 (it sold 232,000 units). In making the sales, the company incurred thefollowing costs and expenses.Cost of goods soldSelling expensesAdministrative expensesVariableV$841,00086,000117,000$Fixed$488,000Prepare a CVP income statement for the quarter ended March 31, 2022. (Round per unit answers to 2 decimal places, e.g. 15.25.)$47,000144,000TotalPHAROAH INC.CVP Income Statement$$Per UnitPercent of Sales%%%

Cost volume profit analysis is the technique used by management for decision-making. The methods…

Pharoah Inc. had sales of $2,320,000 for the first quarter of 2022 (it sold 232,000 units). In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Variable $841,000 86,000 117,000 $ Fixed $ $488,000 47,000 Prepare a CVP income statement for the quarter ended March 31, 2022. (Round per unit answers to 2 decimal places, e.g. 15.25.) 144,000 Total PHAROAH INC. CVP Income Statement $ $ Per Unit Percent of Sales % % %

Pharoah Inc. had sales of $2,320,000 for the first quarter of 2022 (it sold 232,000 units). In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Variable $841,000 86,000 117,000 $ Fixed $ $488,000 47,000 Prepare a CVP income statement for the quarter ended March 31, 2022. (Round per unit answers to 2 decimal places, e.g. 15.25.) 144,000 Total PHAROAH INC. CVP Income Statement $ $ Per Unit Percent of Sales % % %

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 2RE: On January 1, Pope Enterprises inventory was 625,000. Pope made 950,000 of net purchases during the...

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