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Hamby Inc 760000

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Hamby Inc. has sales of $2,000,000 for the first quarter of 2014. In making the
sales, the company incurred the following costs and expenses.

   Variable   Fixed 
Cost of goods sold   760,000  600,000
Selling expenses   95,000  60,000
Administrative expenses   79,000  66,000

Prepare a CVP income statement for the quarter ended March 31, 2014.

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