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Comfi Airways, Inc., a small two-plane passenger airline, has asked for your assistance in some basic analysis of its operations. Both planes seat 10

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Comfi Airways, Inc., a small two-plane passenger airline, has asked for your assistance in some basic analysis of its operations. Both planes seat 10 passengers each, and they fly commuters from Comfi's base airport to the major city in the state, Metropolis. Each month, 40 round-trip flights are made. Shown below is a recent month's activity in the form of a cost-volume-profit income statement. Fare revenues (400 passenger flights) $48,000 Variable costs Fuel $17,332 Snacks and drinks 790 Landing fees 1,800 Supplies and forms 1,150 21,072 Contribution margin 26,928 Fixed costs Depreciation 3,050 Salaries 12,441 Advertising 400 Airport hanger fees 1,500 17,391 Net income $9,537

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