For FY 2016 Bravo Company's CVP format Income Statement is as follows: (Use the attached for the chart)

Bravo Company Income Statement (CVP format) For the Year Ended 12/31/16 Sales (100 units) $10,000 Variable Costs: Direct Labor $1,500 Direct Materials 1,400 Factory Overhead (variable) 1,000 Selling Expenses (variable) 600 Administrative Expenses (variable) 500 Total Variable Expenses 5,000 Contribution Margin $5,000 Fixed Costs: Factory Overhead (fixed) $500 Selling Expenses (fixed) 1,000 Administrative Expenses (fixed) 1,000 Total Fixed Expenses 2,500 Net Income (aka Operating Income) $2,50