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 Number of Socks Month January February March April May June July August Produced Total Cost 1,800 4,890 2,300 3,250 4,300 2,800 5,600 4,500 9,000 5,648 0.350 11,375 13,845 11,200 16,410 4,400 Sandy performed a least-squares regression and obtained the following results Interoopt X Variable 1 5,514.22 197 Suppose that Sandy's expects to sell 4,000 socks during the month of September and that each sock sells for $2.25 Complete Sandy's contribution margin income statement for the month of September. (Round your answers to 2 decimal places.)

Explanation / Answer

Sales revenue 9000 =4000*2.25 Variable expenses 7880 =4000*1.97 Contribution margin 1120 Fixed expenses 5514.22 Net income(loss) -4394.22

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