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The income statement for Richard Machine Company for 2015
appears below.
RICHARD MACHINE COMPANY
Income Statement
For the Year Ended December 31, 2015
——————————————————————————————————————————
Sales (40,000
units).......................................................................................
$1,000,000
Variable
expenses.........................................................................................
700,000
Contribution
margin.......................................................................................
300,000
Fixed
expenses..............................................................................................
360,000
Net income
(loss)...........................................................................................
$ (60,000)
Instructions
Answer the following independent questions and show computations
using the...