7. McCoy Mfg has the following information Sales Revenue $350,000 Fixed Costs $ 60,000 Variable Costs $100,000 Cost of Goods Sold $120,000 What amount would you find on McCoy's variable costing income statement? a. Contribution margin of $250,000 b. Gross Profit of $190,000 c. Contribution margin of $190,000 d. Gross profit of $230,000 8. When performing Regression Analysis, a highly reliable equation means a. R Squared is between .5 and .8 b. Y Coefficient is above .8 C. R Squared is above .8 d. R Squared is below .2