Hamby Inc. has sales of $2,068,000 for the first quarter of 2017. In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Variable $771,000 98,200 80,900 Fixed $614,000 62,800 76,400 Prepare a CVP income statement for the quarter ended March 31, 2017 HAMBY INC. Income Statement Hamby Inc. has sales of $2,068,000 for the first quarter of 2017. In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Variable $771,000 98,200 80,900 Fixed $614,000 62,800 76,400 Prepare a CVP Income statement for the quarter ended March 31, 2017 HAMBY INC. Income Statement Administrative Expenses Contribution Margin Cost of Goods Sold Fixed Expenses Gross Profit Net Income/(Loss) Sales Selling Expenses Total Fixed Expenses Total Variable Expenses Variable Expenses