*Brief Exercise 22-07 Crane Inc. had sales of $2,390,000 for the first quarter of 2020. In making the sales, the company incurred the following costs and expenses. Variable Fixed Cost of goods sold $925,000 $488,000 Selling expenses 116,000 95,000 Administrative expenses 103,000 129,000 Prepare a CVP income statement for the quarter ended March 31, 2020. CRANE INC. CVP Income Statement For the Quarter Ended March 31, 2020 Question Attempts: 0 of 3 used