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Aussie Travel uses the contribution margin income statement internally. Aussie's first quarter results are as follows: (Click the loon to view the income statement.) Aussie's

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Aussie Travel uses the contribution margin income statement internally. Aussie's first quarter results are as follows: (Click the loon to view the income statement.) Aussie's relevant range is sales of between $140,000 and $660,000. Read the requirements Requirement 1. Prepare contribution margin income statements at sales levels of $170,000 and $410,000. (Hint: Use the contribution margin ratio) Begin by preparing the contribution margin income statement at the $170.000 level (Round the variable expense rate to the nearest whole percent. Enter 1088es with a minus sign or parentheses) Aussie Travel Data Table Contribution Margin Income Statement Three Months Ended March 31 Sales revenue 170,000 Less: Variable expenses 1 Aussie Travel Contribution margin 2 Contribution Margin Income Statement 178,500 Less: Foxed expenses 3 Three Months Ended March 31 Operating income (loss) 4 Sales revenue $ 550,000 5 Less: Variable expenses 165,000 6 Contribution margin S 385,000 7 Less: Fixed expenses 178,500 S 8 Operating income 206,500

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