Tosca Beverages reports the following information for July:

Required Prepare:

a. A gross margin income statement.

b. Acontribution margin income statement.

Transcribed Image Text:

Units produced and sold Per unit revenue and costs: Sales revenue Direct material costs Direct labor costs.. Variable manufacturing overhead Fixed manufacturing overhead based on a volume of 23,500 units.... Variable marketing and administrative costs Fixed marketing and administrative costs based on a volume of 23,500 units 23,500 $8.00 0.50 0.40 0.15 2.30 1.20 2.50