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C2 (10 points) CG Corporation has the following information for the month ended 31 March 2019: Sales revenue $318,500 Fixed costs $175,000 Variable costs $111,475
C2 (10 points) CG Corporation has the following information for the month ended 31 March 2019: Sales revenue $318,500 Fixed costs $175,000 Variable costs $111,475 Relevant range of sales is between $250,000 and $360,000. The proportion of each sales dollar that goes toward variable costs is constant within the relevant range. C2 Required: C2-A. Calculate the contribution margin ratio. Show supporting calculations. (3 points) C2-B. Assuming a sales level of $250,000 for March, prepare a contribution margin income statement at the $250,000 sales level for the month ended 31 March 2019. (7 points)
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