company incurred the following costs and expenses. Brief Exercise 5-7 Pharoah Inc. had sales of $2,320,000 for the first quarter of 2020. In mak Variable Fixed Cost of goods sold $966,000 $430,000 Selling expenses 86,000 47 Administrative expenses 117,000 Prepare a CVP Income statement for the quarter ended March 31, 2020. PHAROAH INC CVP Income Statement For the Quarter Ended March 31, 2020 Sa Rudy