Contribution Margin Income Statement.Last year Pod Products, Inc., sold its product for $250 per unit. Production costs totaled $40,000 (25 percent fixed, 75 percent variable). Selling and administrative costs totaled $150,000 (10 percent fixed, 90 percent variable). Pod Products produced and sold 1,000 units last year.

Required:

Create a contribution margin income statement for Pod Products, Inc.

Fill in the Blanks below:

Sales

Variable Costs

Cost of Goods Sold

Selling and Administrative Costs

Total Variable Costs -

Contribution Margin -

Fixed Costs

Cost of Goods Sold

Selling and Administrative Costs

Total Fixed Costs -

Operating Profits -