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Now prepare the contribution margin income statement at the $410,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses with a
Now prepare the contribution margin income statement at the $410,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses.) Aussie Travel Contribution Margin Income Statement Three Months Ended March 31 Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income (loss) A B 1 Aussie Travel 2 Contribution Margin Income Statement 3 Three Months Ended March 31 4 Sales revenue $ 500,000 5 Less: Variable expenses 120,000 6 Contribution margin $ 380,000 7 Less: Fixed expenses 171,000 8 Operating income $ 209,000
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