3. Bee Company is a honey wholesaler. An income statement and other data for the second quarter of the year are given below: Bee Company Income Statement For the Quarter Ended June 30 Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling Administrative Net operating income $960,000 420,000 540,000 $200,000 75,000 275,000 $265,000 Other data: Average selling $60 per unit price Fixed selling expenses plus 8% of Selling expenses sales Administrative expense Fixed administrative expenses plus $2 per unit Bee Company's contribution margin for the second quarter is: A. $463,200 B. $540,000 C. $851,200 XD. $431,200 FOCH