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Question(s) / Instruction(s):

Naylor Manufacturing Inc. sold 8,500 units and recorded sales of $501,500 for the first month of 2011. In making the sales, the company incurred the following costs and expenses.

                                                                    Variable                                Fixed

Cost of goods sold                                 $211,092                         $81,906              

Selling expenses                                     49,856                               36,742              

Administrative expenses                        19,892                          47,885

Required:

a.            Prepare a CVP income statement for the month ended January 31, 2011.

b.            Compute the contribution margin per unit.

c.             Compute the contribution margin ratio.

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