Chita Corporation Produces and Sells a Single Product Required:
Redo the Company's Contribution Format Income Statement Assuming That

question 137

Essay

Chita Corporation produces and sells a single product. The company's contribution format income statement for January appears below:
$$\begin{array} { l r } \text { Sales } ( 5,500 \text { units } ) & \$ 297,000 \\\text { Variable costs } & 165,000 \\\text { Contribution margin } & 132,000 \\\text { Fixed costs } & 105,300 \\\text { Operating profit } & \$ 26,700 \\\end{array}$$
Required:
Redo the company's contribution format income statement assuming that the company sells 5,700 units.

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