Cedar Chair Company developed the following information for its chairs sales: Sales price $35.50 per chair Variable cost of goods sold $15.25 per chair Fixed cost of goods sold $125.000 Variable selling expense 15% of sales price Variable administrative expense Fixed selling expense $5.000 Fixed administrative expense $8.000 For the year ended December 31, 2020. Cedar Chair Company produced and sold 17,000 chairs. $2.75 per unit Instructions a. Prepare a CVP income statement using the contribution margin format for Cedar Chair Company for 2020. (15 marks) b. Briefly explain how this significant of contribution margin in this statement in context of either coving fixed costs or adding to profit. (5 mark For the inolhar prorr