Crane Industries carries no inventories. Its product is manufactured only when a customers order is received. It is then shipped immediately after it is made. For its fiscal year ended October 31, 2020, Cranes break-even point was $1.38 million. On sales of $1.18 million, its income statement showed a gross profit of $213,000, direct materials cost of $401,000, and direct labor costs of $500,000. The contribution margin was $177,000, and variable manufacturing overhead was $48,000.

Crane Industries carries no inventories. Its product is manufactured only when a customer's order is received. It is then shipped immediately after it is made. For its fiscal year ended October 31, 2020, Crane's break-even point was $1.38 million. On sales of $1.18 million, its income statement showed a gross profit of $213.000, direct materials cost of $401,000, and direct labor costs of $500,000. The contribution margin was $177,000, and variable manufacturing overhead was $48,000. (a) Your answer is partially correct. Calculate the following: 1. $ 54000 2. Variable selling and administrative expenses. Fixed manufacturing overhead. Fixed selling and administrative expenses. $ 3. $