Preston Drycleaners has capacity to clean up to 6,000 garments per month. (Click the icon to view the cost schedule.) Assume that Preston charges customers $5 per garment for dry cleaning. Prepare Preston’s projected income statement if 4,240 garments are cleaned in March. First, prepare the income statement using the traditional format; then prepare Preston’s contribution margin income statement.

Sep 8, 2023

 

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Preston Drycleaners has capacity to clean up to 6,000 garments per month. (Click the icon to view the cost schedule.) Assume that Preston charges customers $5 per garment for dry cleaning. Prepare Preston’s projected income statement if 4,240 garments are cleaned in March. First, prepare the income statement using the traditional format; then prepare Preston’s contribution margin income statement.
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