Homework: Homework CH20 Save Score: 4.8 of 10 pts 1 6 of 10 (10 complete) > > IW Score: 93.24%, 93.24 of... x E20-29 (similar to) Question Help Graham's Steel Parts produces parts for the automobile industry. The company has monthly fixed costs of $630,000 and a contribution margin of 80% of revenues. Read the requirements. ( $ 630,000 $ 80% = $ 787,500 4 Requirement 2. Use contribution margin income statements to compute Graham's monthly operating income or operating loss if revenues are $520,000 and if they are $1,010,000. Begin by selecting the labels for the contribution margin income statement. Then enter the amounts and calculate operating income or loss when revenues are $520,000. Then in the next step, calculate operating income or loss when revenues are $1,010,000. (Use a minus sign or parentheses for a loss.) Graham's Steel Parts Contribution Margin Income Statement Revenues are Revenues are 520,000 1,010,000 Sales Revenue 520,000 $ 1,010,000 A ers, 6 Variable Costs 104,000 opy Contribution Margin 416,000 Fixed Costs 630,000 Operating Income (Loss) $ 214,000) pyrig ns of Enter any number in the edit fields and then click Check Answer. ? part remaining Clear All Check Answer 5,27 JUN 25 . - atv S C G Search or type URL @ $ % &