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Island Novelties, Inc., of Palau makes two products --Hawaiian Fantasy and Tahitian Joy. Each product's selling price, variable expense per unit, and annual sales volume

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Island Novelties, Inc., of Palau makes two products --Hawaiian Fantasy and Tahitian Joy. Each product's selling price, variable expense per unit, and annual sales volume are as follows: Selling price per unit Variable expense per unit Number of units sold annually Hawaiian Fantasy Tahitian Joy $ 30 $ 100 $ 215 25 30,000 6,000 Fixed expenses total $652,800 per year. The company has developed a new product called Samoan Delight that sells for $30 ench and that has vanable expenses of $18 per unit. If the company can sell 12,500 units of Samoan Delight without incurring any additional fixed expenses. Prepare a revend contribution format income statement that includes Samoan Delight. Assume that sales of the other two products does not change. (Round your "Percentage" answers to 1 decimal place. 0.1234 should be entered as 12.3).) Show less Island Novelties, Inc., Contribution Income Statement Hawaiian Fantasy Tahitian Joy Amount % Amount % Samoan Delight Amount Amount % $ 0 00 $S OOS (Reg 13 Reg 20 )

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