All answers must be entered as a formula. Click OK to begin. OK ? X - Sign In FILE % HOME Calibri B I Cost Behavior, Operating Leverage, and Profitability Analysis - Excel INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW - 11 - A = % D D U - - - A - Alignment Number Conditional Format as Cell Cells Formatting Table Styles Font Styles Paste Editing Clipboard A1 X V f Jay Corporation has decided to prepare contribution income statements for Tay Corporation has decided to prepare cdntribution income statements for internal planning. 3 Budgeted information for Quarter 1 of Year 3: 4 Sales in units Sales price per unit $ 17,000 48.00 After analyzing expenses, the company has determined the following cost patterns. Cost of Goods Sold (per unit) $ 29.00 Sales Commissions (per dollar of sales) 9.50% 11 Administrative Salaries (per quarter) Rent Expense (per quarter) Depreciation Expense (per quarter) $ $ $ 45,000.00 27,000.00 36,000.00 16 1. Prepare a contribution margin income statement for Quarter 1 of Year 3. Jay Corporation Budgeted Income Statement ..............For. Voar.3...Ouarter.1..... Clipboard Font Styles A1 Jay Corporation has decided to prepare contribution income statements for 1. Prepare a contribution margin income statement for Quarter 1 of Year 3. Jay Corporation Budgeted Income Statement For Year 3, Quarter 1 Sales 23 Variable expenses: 24 Cost of goods sold Sales commissions 26 Total variable expenses 27 Contribution margin 28 Fixed expenses: Adminstrative salaries Rent expense Depreciation expense 32 Total fixed expenses 33 Net operating income ... Sheet1 ... +