Current Attempt in Progress Richard Miller, an up-and-coming fashion designer, created a new line of men's fashion socks in response to the growing number of celebrities who are expressing their individuality by replacing traditional navy and black socks with brighter colors and bold patterns. At a sales price of $14 per pair, Richard estimates monthly sales volume will be 24,100 pairs. Variable product costs will be $9.30 per pair and fixed overhead will be $2.00 per pair. Sixty percent of the fixed overhead is directly traceable to the new sock line. To promote the socks, Miller proposes a $1.16 per pair commission to the company's salespeople and a $10,600 per month advertising campaign In compliance with corporate policy, the socks will also be allocated $44,600 in fixed corporate support costs (a) Your answer is correct. Prepare a traditional monthly income statement for the proposed sock line. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45).) Richard Miller Monthly Income Statement Sales revenue Cost of goods sold Variable 2241304 337400