amby Inc. has sales of $2,000,000 for the first quarter of 2020. In making the sales, the company incurred the following costs and expenses.

		Variable		Fixed
Cost of goods sold		$760,000		$600,000
Selling expenses		95,000		60,000
Administrative expenses		79,000		66,000

Prepare a CVP income statement for the quarter ended March 31, 2020.

HAMBY INC. Income Statement For the Year Ended March 31, 2020For the Quarter Ended March 31, 2020March 31, 2020
Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesGross ProfitNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable Expenses				$
Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesGross ProfitNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable Expenses
Administrative Expenses Contribution Margin Cost of Goods Sold Fixed Expenses Gross Profit Net Income/(Loss) Sales Selling Expenses Total Fixed Expenses Total Variable Expenses Variable Expenses		$
Administrative Expenses Contribution Margin Cost of Goods Sold Fixed Expenses Gross Profit Net Income/(Loss) Sales Selling Expenses Total Fixed Expenses Total Variable Expenses Variable Expenses
Administrative Expenses Contribution Margin Cost of Goods Sold Fixed Expenses Gross Profit Net Income/(Loss) Sales Selling Expenses Total Fixed Expenses Total Variable Expenses Variable Expenses
Administrative Expenses Contribution Margin Cost of Goods Sold Fixed Expenses Gross Profit Net Income/(Loss) Sales Selling Expenses Total Fixed Expenses Total Variable Expenses Variable Expenses
Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesGross ProfitNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable Expenses
Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesGross ProfitNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable Expenses
Administrative Expenses Contribution Margin Cost of Goods Sold Fixed Expenses Gross Profit Net Income/(Loss) Sales Selling Expenses Total Fixed Expenses Total Variable Expenses Variable Expenses
Administrative Expenses Contribution Margin Cost of Goods Sold Fixed Expenses Gross Profit Net Income/(Loss) Sales Selling Expenses Total Fixed Expenses Total Variable Expenses Variable Expenses
Administrative Expenses Contribution Margin Cost of Goods Sold Fixed Expenses Gross Profit Net Income/(Loss) Sales Selling Expenses Total Fixed Expenses Total Variable Expenses Variable Expenses
Administrative Expenses Contribution Margin Cost of Goods Sold Fixed Expenses Gross Profit Net Income/(Loss) Sales Selling Expenses Total Fixed Expenses Total Variable Expenses Variable Expenses
Administrative ExpensesContribution MarginCost of Goods SoldFixed ExpensesGross ProfitNet Income/(Loss)SalesSelling ExpensesTotal Fixed ExpensesTotal Variable ExpensesVariable Expenses				$

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