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Countrywide Travel uses the contribution margin income statement internally. Countrywide's first quarter results are as follows: (Click the icon to view the income statement.) Countrywide's
Countrywide Travel uses the contribution margin income statement internally. Countrywide's first quarter results are as follows: (Click the icon to view the income statement.) Countrywide's relevant range is sales of between $120,000 and $640,000. Read the requirements. Requirement 1. Prepare contribution margin income statements at sales levels of $190,000 and $460,000. (Hint: Use the contribution margin ratio.) Begin by preparing the contribution margin income statement at the $190,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses.) \begin{tabular}{|l|l|l} \hline Data table & Requirements \\ 1. Prepare contribution margin income statements at sales levels of $190,000 and $460,000. (Hint: Use the contribution margin ratio.) \\ \hline \end{tabular}
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