I have attached the instruction and the given problem. Thank you! Coller Company's most recent contribution format income statement isshown below.TotalPer UnitP15.00Sales (20,000 units)P300,000180,0009.00Less: Variable expensesContribution marginLess: Fixed expensesP120,000P 6.0070,000Net operating incomeP 50,000 Required:Prepare a new contribution format income statement under each of thefollowing conditions (consider each case independently):1. The sales volume increases by 15%.

Income Statement is a summary of all revenues, gains and all expenses and losses incurred during the…

Answered: Required: Prepare a new contribution…

Required: Prepare a new contribution format income statement under each of the following conditions (consider each case independently): 1. The sales volume increases by 15%.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

I have attached the instruction and the given problem. Thank you!

Coller Company's most recent contribution format income statement is
shown below.
Total
Per Unit
P15.00
Sales (20,000 units)
P300,000
180,000
9.00
Less: Variable expenses
Contribution margin
Less: Fixed expenses
P120,000
P 6.00
70,000
Net operating income
P 50,000

Required:
Prepare a new contribution format income statement under each of the
following conditions (consider each case independently):
1. The sales volume increases by 15%.

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