Contribution Margin Income Statement The following data apply to Gordon Company for 2009:

1. Prepare a contribution margin income statement. Assume there were no beginning or ending inventories in 2009.
2. How much would Gordon Company have lost if only 70 units had been sold during 2009?

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Sales revenue (100 units at $35 each) $3,500 Variable selling expenses 630 Variable administrative expenses 350 Fixed selling expenses Fixed administrative expenses Direct labor Direct materials Fixed manufacturing overhead Variable manufacturing overhead. 420 210 700 840 70 42