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 4,100 4,500 3,700 5,650 6,250 5,000 4,850 6,500 Total Cost 6,500 6,750 6,100 7,450 7,950 7,050 6,900 8,200 Sandy performed a least-squares regression and obtained the following results. Coefficients Intercept X Variable1 3,492.13 0.71 Suppose that Sandy's expects to sell 3,600 socks during the month of September and that each sock sells for $4.00 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 $14,400.00 2,556.00 Sales Revenue otal Variable Costs Contribution Margin otal Fixed Costs Net Operating Income

Explanation / Answer

Sales revenue 14400 =3600*4 Total variable expenses 2556 =3600*0.71 Contribution margin 11844 Total fixed costs 3492.13 Net operating income 8351.87

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