Sandy\'s Socks makes the world\'s best socks. Sandy performed a least-squares re

Question

Sandy's Socks makes the world's best socks. Sandy performed a least-squares regression of the information for the last eight months and obtained the following results. Month January February March April May June July August Number of Socks Produced 3,200 6,500 7,800 2,500 6,590 6,800 3,000 3,450 Total Cost 4,900 8,900 9,995 3,900 8,950 9,300 4,700 5,250 Sandy performed a least-squares regression and obtained the following results Coefficients Intercept X Variable 1 1,133.23 1.18 Suppose that Sandy's expects to sell 3,700 socks during the month of September and that each sock sells for $3.75 Complete Sandy's contribution margin income statement for the month of September. (Round your answers to 2 decimal places.) SANDY'S SOCKS Contribution Margin Income Statement Month of September Contribution Margin Net Operating Income

Explanation / Answer

SANDY’S SOCKS

Contribution Margin Income Statement for the month of september

Amount

Sales revenue

13875

3700*$3.75

Total Variable costs

4366

3700*1.18

Contribution Margin

9509

Total Fixed costs

1133.23

Net Operating Income

8375.77

Rounded Off

8376

SANDY’S SOCKS

Contribution Margin Income Statement for the month of september

Amount

Sales revenue

13875

3700*$3.75

Total Variable costs

4366

3700*1.18

Contribution Margin

9509

Total Fixed costs

1133.23

Net Operating Income

8375.77

Rounded Off

8376

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