Sandhill Inc. had sales of $2,340,000 for the first quarter of 2022 (it sold 234,000 units). In making the sales, the company incurred the Following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Variable $965,000 74,000 131,000 Fixed $461,000 79,000 119,000 Prepare a CVP income statement for the quarter ended March 31, 2022. (Round per unit answers to 2 decimal places, e.g. 15.25.)

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Sandhill Inc. had sales of $2,340,000 for the first quarter of 2022 (it sold 234,000 units). In making the sales, the company incurred the
following costs and expenses.
Cost of goods sold
Selling expenses
Administrative expenses
Variable
$965,000
74,000
131,000
Fixed
$461,000
79,000
119,000
Prepare a CVP income statement for the quarter ended March 31, 2022. (Round per unit answers to 2 decimal places, e.g. 15.25.)
Transcribed Image Text:Sandhill Inc. had sales of $2,340,000 for the first quarter of 2022 (it sold 234,000 units). In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Variable $965,000 74,000 131,000 Fixed $461,000 79,000 119,000 Prepare a CVP income statement for the quarter ended March 31, 2022. (Round per unit answers to 2 decimal places, e.g. 15.25.)
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