Brief Exercise 18-7 Russell Inc. had sales of $2,350,000 for the first quarter o

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Brief Exercise 18-7 Russell Inc. had sales of $2,350,000 for the first quarter of 2017. In making the sales, the company incurred the following costs and expenses Variable Fixed Cost of goods sold Selling expenses Administrative expenses 93,000 62,000 99,000 129,000 Prepare a CVP income statement for the quarter ended March 31, 2017 RUSSELL INC. CVP Income Statement Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 15 used SAVE FOR LATER SUBMIT ANSWER

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Detailed Statement

Russell Inc. CVP Income Statement For the First Quarter of 2017 Sales     23,50,000 Total Variable Expenses     11,45,000 Contribution Margin     12,05,000 Total Fixed Expenses        6,35,000 Net income        5,70,000

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