not sure if what i have is right

. Magenta Company provided the following information regarding activity in 2009: Produced and sold 2,500 units at $50 per unit Variable manufacturing costs were $16 per unit Fixed manufacturing costs were $50,000 Sales commissions were paid at 10% of revenues Administrative costs, all fixed, totaled $10,000 Prepate income statements for Magenta Company using the absorption cost format (standard GAAP approach) and the variable cost format (contribution margin approach). ALT Sales 125000 COGS -90000 Gross profit 35000 Operating expenses -22500 Net operating income 12500 1 2 3 Variable Cost Format (Contribution Margin Approach) Sales 125000 Variable cost-52000 Contribution margin 72500 Fixed cost -60000 Net operating income 12500