(Answered) Tosca Beverages: Gross margin and contribution margin income statements

Gross Margin and Contribution Margin Income Statements;Tosca Beverages reports the following information for July;Units produced and sold 18,800;Per unit revenue and costs;Sales revenue. $3.20;Direct material costs 0.20;Direct labor costs 0.16;Variable manufacturing overhead 0.06;Fixed manufacturing overhead based;on a volume of 18,800 units 0.92;Variable marketing and administrative costs 0.48;Fixed marketing and administrative costs;Based on a volume of 18,800 units 1.00;Required;Prepare;a) A gross margin income statement.;b) A Contribution margin income statement.;Please note the difference in unit produced and sold
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Tosca Beverages: Gross margin and contribution margin income statements

 


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