Format #1 Sales Cost of Goods Sold Gross Profit Selling & Administrative Expenses Income from operations 2,200,000 1,430,000 770,000 730,000 40,000 Format #2 Sales Variable Costs Contribution Margin Fixed Costs: Fixed Manufacturing Costs Fixed Selling & Administrative Exp. Income from Operations 2,200,000 700,000 1,500,000 757.000 703,000 40,000 What's the name of each format above: Format 1 is Contribution Margin Format and Format 2 is Absorption Format Format 1 is Absorption Format and Format 2 is Variable Format Format 1 is Absorption Format and Format 2 is Fixed Format Format 1 is Gross Profit Format and Format 2 is Contribution Margin Format