Dar grove industries produces and sells a cell phone-operated home security control. information regarding the costs and sales of security controls during may 2017 are provided below. unit selling price of security control $47 unit variable costs $24 total monthly fixed costs $124,000 units sold 8,000 prepare a cvp income statement for cedar grove industries for the month of may. provide per unit values and total values. cedar grove industries cvp income statement total per unit $ $ $ $

Particulars                              Unit cost       Amount

Sales income                         $ 47            $ 376,000      

Less: Variable cost                $ 24           $ 192,000

Contribution Margin             $ 13           $ 184,000

Less: Fixed cost                                        $ 124,000

Net income                                                $ 60,000

Explanation:

Given:

Unit selling price = $ 47

Variable cost = $ 24

Total monthly fixed cost = $ 124,000

Number of units sold = 8,000

CVP income statement for Cedar Grove Industries for the month of May is as:

Particulars                              Unit cost       Amount

Sales income                         $ 47            $ 376,000      

Less: Variable cost                $ 24           $ 192,000

Contribution Margin             $ 13           $ 184,000

Less: Fixed cost                                        $ 124,000

Net income                                               $ 60,000

here, the amount is for the total unit i.e 8000 units multiplied by the unit cost

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