A B 1 Chapter 1: Applying Excel 2 3 Data 4 Sales $ 45,000 5 Variable costs: 6 $ 32,000 Cost of goods sold Variable selling 7 $ 3,200 3,000 8 Variable administrative $ 9 Fixed costs: 10 Fixed selling $ 2,500 11 Fixed administrative $ 1,500 (a) What is the gross margin now? X Answer is complete but not entirely correct. Gross margin $ 3,684 X (b) What is the net operating income now? X Answer is complete but not entirely correct. Net operating income $ 3,684 X (c) What is the contribution margin now? X Answer is complete but not entirely correct. Contribution margin $ 7,684 X