Homework: Chapter 3 Save Score: 6 of 16 pts 1 4 of 7 (4 complete) HW Score: 25%, 23 of 92 pts W E3-23A (similar to) Question Help Parish Dry Cleaners has capacity to clean up to 6.000 garments per month. Click the icon to view the cost schedule.) Assume that Parish charges customers $10 per garment for dry cleaning. Prepare Parish's projected income statement if 4,260 garments are cleaned in March. First prepare the income statement using the traditional format; then, prepare Parish's contribution margin income statement Begin by preparing the projected income statement using the traditional format. i Dala Table Parish Dry Cleaners Projected Income Statement Month Ended March 31 4.500 S Dry cleaning revenue Less: Operating costs 42,600 (13,521) 3,000 Garments 6,000 Garments Garments $ S Total variable costs Total fixed costs 29,079 2,550 $ 9,900 3,625 $ 9,900 5,100 9.900 Operating income foss) S 12,450 $ Next complete the projected contribution margin Income statement. 13,725 3 Total operating costs 15.000 Parish Dry Cleaners Projected Contribution Margin Income Statement Month Ended March 31 0.85 S 0.25 Variable cost per garments Fixed per garment 0.65 3 2.20 3.30 1.65 42.600 5 1.15 $ 2.50 3.05 $ Average cost per garment Dry cleaning revenue Less: Variable costs Contribution margin Print Done Less: Fixed costs Operating income (los)