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dinachroek@yahoo.com

Hi anyone can help me solve this? please sure excel to link the forumla. Thank you

PROBLEM

Cost Behavior
Prepare a contribution margin income statement
Five Macaws 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:
		Five Macaws
		Traditional Income Statement (Absorption Costing)
		For the Year Ended December 31
		Sales revenue		$990,000
		Less: Cost of goods sold		673,000
		Gross profit		$317,000
		Less operating expenses:
		Selling and marketing expenses	$65,500
		Website maintenance expenses	58,000
		Other operating expenses	17,600	141,100
		Operating income		$175,900
For internal planning and decision-making purposes, the owner of Five Macaws would like to translate the companys income statement into the contribution margin format. Since Five Macaws is online only, all of its cost of goods sold is variable. A large portion of the selling and marketing expenses consists of freight-out charges ($19,400), which were also variable. Only 20% of the remaining selling and marketing expenses and 25% of the website expenses were variable. Of the other operating expenses, 90% were fixed.
Use the blue shaded areas on the ENTERANSWERS tab for inputs.
Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.
Requirements
Prepare Five Macaws contribution margin income statement for last year.
	a.	Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted.
	b.	Follow the format shown in Exhibit 6-22.

Please Put the answer into this formwith the foruma link to it.

(Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.)
Five Macaws
Contribution Margin Income Statement
For the Year Ended December 31
Sales revenue
Less: Variable expenses
Variable cost of goods sold
Variable selling and marketing expenses
Variable web site maintenance expenses
Other variable operating expenses
Contribution margin
Less: Fixed expenses
Fixed selling and marketing expenses
Fixed web site maintenances expenses
Other fixed operating expenses
Operating income