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I need help with the ones that are not highlighted. Elegant Elephants is a specialty pet gift shop selling exotic pet-related items online. The shop
I need help with the ones that are not highlighted.
Elegant Elephants is a specialty pet gift shop selling exotic pet-related items online. The shop has no physical location. Results for last year are shown next (Click the icon to view the results.) For internal planning and decision-making purposes, the owner of Elegant Elephants would like to translate the company's income statement into the contribution margin format. Since Elegant Elephants is online only, all of its cost of goods sold ariable. A large portion of the selling and marketing expenses consists o freight out charges $19,000 which were also variable. Only 20% o the remaining selling and marketing expenses and 25% of the website expenses were variab the other operating expenses, 90% were fixed. Based on this information, prepare Elegant Elephants' contribution margin income statement for last year Elegant Elephants Contribution Margin Income Statement For the Year Ended December 31 Data Table Sales revenue S 1,008,000 Less: Cost of goods sold Variable selling and marketing expenses Variable websle maintenance expenses Other varlable operating expenses Total variable Elegant Elephants Traditional Income Statement (Absorption Costing) For the Year Ended December 31 Sales revenue Less: Cost of goods sold Gross profit Less operating expenses: $ 1,008,000 668,000 Contribution margin Less: Fixed selling and marketing expenses $340,000 Fixed website maintenance expenses Other fixed operating expenses Total fixed Selling and marketing expenses Website maintenance expenses Other operating expenses $61,500 58,500 17,200 137,200 Operating income $ 202,800 Operating income Print Done Choose from any list or enter any number in the input fields and then click CheckStep by Step Solution
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