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For its top managers, Venus Travel formats its income statement as follows: Venus Travel Contribution Margin Income Statement Three Months Ended March 31, 2016 Sales

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For its top managers, Venus Travel formats its income statement as follows: Venus Travel Contribution Margin Income Statement Three Months Ended March 31, 2016 Sales Revenue $315,500 Variable Costs 138.820 Contribution Margin 176,680 Fixed Costs 173.000 Operating Income $3.680 A. Calculate the contribution margin ratio. Enter the labels and amounts to calculate the contribution margin ratio. (Enter the contribution margin ratio as a wholo percentage X% 96 B. First prepare the contribution margin income statement at the $254.000 sales level (Use a minus sign or parentheses for a loss Venus Travel Contribution Margin Income Statement Three Months Ended March 31, 2016 C. Now prepare the contribution margin income statement at the $364,000 sales level. (Use a minus sign or parentheses for a loss Venus Travel Contribution Margin Income Statement Three Months Ended March 31, 2016

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