Cost-volume-profit (CVP) is so important for decision-making, and management needs this information reported in a CVP income statement format for internal use. The CVP income statement classifies costs as variable or fixed and computes a contribution margin. Please use ABC Companys financial information to create a CVP income statement. The relevant data for its products is posted below:

Product JB50 JB60

Unit Selling Price of Product $20 $25

Unit Variable Costs $7 $8

Total Monthly Fixed Costs $603,000 $440,000

Units Sold 400,000 200,000