During the past year, Tanish Garments, Inc., produced 250,000 units of product and sold 80%...
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Accounting
During the past year, Tanish Garments, Inc., produced 250,000 units of product and sold 80% of everything produced. Production costs of the year consisted of $500,000 direct materials, $750,000 direct labour, $250,000 variable manufacturing overhead, and $300,000 fixed manufacturing overhead. Normal capacity of the plant was 250,000 units. Selling price was $20 per unit. Required: what is contribution margin
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