I need the fixed manufacturing costs in order to get the Net profit. It is NOT 1

Question

I need the fixed manufacturing costs in order to get the Net profit. It is NOT 1,034,000. thanks

Techtronics Software, Inc. specializes in customized spreadsheet software. The results of the company's operations during the prior year (20xx) are given in the following table. All units produced during the year were sold. (Ignore income taxes.) $4,800,000 Sales revenue Manufacturing costs: Fixed Variable Selling costs: Fixed Variable Administrative costs: Fixed Variable 590,000 1,180,000 68,000 190,000 138,000 48,000 Required 1-a. Prepare a traditional income statement for the company. 1-b. Prepare a contribution income statement for the company 2. What is the firm's operating leverage for the sales volume generated during the prior year? 3. Suppose sales revenue increases by 15 percent. What will be the percentage increase in net income? Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Req 3 Prepare a contribution income statement for the company TECHTRONICS SOFTWARE, INC Income Statement For the Year Ended December 31, 20XX ales $ 4,800,000 Less: Variable expenses Variable manufacturing $ 1,180,000 1,180,000 ontribution margin Less: Fixed expenses S 3,620,000 Fixed manufacturing 0 $ 3,620,000

Explanation / Answer

income statement Sales 4,800,000 less:Variable expense Variable manufacturing costs 1,180,000 variable selling expense 190,000 varibale administrative costs 48,000 total variable expense 1,418,000 Contribution margin 3,382,000 Fixed expenses fixed manufacturing costs 590,000 fixed selling cost 68,000 fixed administrative cost 138,000 total fixed expense 796,000 net income 2,586,000

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