DO not give answer in image Required information[The following information applies to the questions displayed below.]Henna Company produces and sells two products, Carvings and Mementos. It manufactures these products in separatefactories and markets them through different channels. They have no shared costs. This year, the company sold 50,000units of each product. Income statements for each product followSalesVariable costsContribution marginFixed costsIncomeContribution marginCarvings$ 2,000,0001,600,000400,000125,000$ 275,0002. Assume that the company expects sales of each product to decline to 30.000 units next year with no change in unit selling price.Prepare a contribution margin income statement for the next year (as shown above with columns for each of the two products).Income (loss)UnitsMementos$ 2,000,000250,0001,750,0001,475,000$ 275,000HENNA CompanyContribution Margin Income StatementCarvings$ Per unit$Total00Mementos$ Per unit$Total00 $Total0000

HENNA Company contribution margin…

Henna Company produces and sells two products, Carvings and Mementos. It manufactures these products in separate factories and markets them through different channels. They have no shared costs. This year, the company sold 50,000 units of each product. Income statements for each product follow Sales Variable costs Contribution margin Fixed costs Income Carvings $ 2,000,000 1,600,000 400,000 125,000 $ 275,000 Mementos $ 2,000,000 250,000 1,750,000 1,475,000 $ 275,000 2. Assume that the company expects sales of each product to decline to 30.000 units next year with no change in unit selling price, Prepare a contribution margin income statement for the next year (as shown above with columns for each of the two products)

Henna Company produces and sells two products, Carvings and Mementos. It manufactures these products in separate factories and markets them through different channels. They have no shared costs. This year, the company sold 50,000 units of each product. Income statements for each product follow Sales Variable costs Contribution margin Fixed costs Income Carvings $ 2,000,000 1,600,000 400,000 125,000 $ 275,000 Mementos $ 2,000,000 250,000 1,750,000 1,475,000 $ 275,000 2. Assume that the company expects sales of each product to decline to 30.000 units next year with no change in unit selling price, Prepare a contribution margin income statement for the next year (as shown above with columns for each of the two products)

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PA: The following product Costs are available for Haworth Company on the production of chairs: direct...

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