IvanhoeManufacturing Inc. had sales of $$2\mathrm{.}75$ million for the first quarter of $2022.$ In making the

sales, the company incurred the following costs and expenses:

Variable Fixed

Cost of goods sold $$913,500$ $$447,500$

Selling expenses $69,50040,000$

Administrative expenses $87,00098,500$

Prepare a CVP income statement for the quarter ended March $31,2022.$

IVANHOE MANUFACTURING INC.

CVP Income Statement

$

$