) Dodge Industries incurs the following costs during the current year: Depreciation...
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Accounting
) Dodge Industries incurs the following costs during the current year:
Depreciation of Machinery
$15,000
Direct labor
6,000
Direct materials
4,000
Executive salaries
20,000
Insurance
2,000
Rent on building
8,000
Factory supplies
10,000
Vehicle lease cost
5,000
Sales for the year were $80,000 and Dodge determined that only the direct production costs and factory supplies are to be classified as variable costs; all other costs are classified as fixed costs. Dodge sold 400 units.
(a)Using excel, make a Contribution margin Income Statement. Calculate the unit contribution margin and the contribution margin ratio for Dodge
Industries.
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