any prepares traditional ( ement use. absorption costing) income statements for its bankers. Galore would also like to prepare contribution margin income state the following amounts that would be shown on these income statements: ent 1. Gross Profit e formula, then compute the gross profit Sales Cost of goods sold Gross profit 163,125 149,350 $ 13,775 ent 2. Contribution Margin formula, then compute the Data Table Sales 163,125 ent 3. Total expenses show le selling and administrativ selling and administrative e penses below the gross pr ent 4. Total expenses show manufacturing overhead selling and administrative ex 120,800 $ 29,000 10,000 Direct materials used Direct labor Variable manufacturing overhead . . . Variable selling and administrative expenses Fixed selling and administrative expenses .. $ 11,900 Print Done ent 5. Dollar value of ending inventory under absorption costing