Oriole, Ltd. is a local coat retailer. The store's accountant prepared the following income statement for the month ended January 31: $ 779,000 334,500 444,500 Sales revenue Cost of goods sold Gross margin Operating expenses Selling expense Administrative expense Net operating income $ 24,720 51,100 75,820 $ 368,680 Oriole sells its coats for $250 each. Selling expenses consist of fixed costs plus a commission of $6.50 per coat. Administrative expenses consist of fixed costs plus a variable component equal to 5% of sales. Per Unit Sales Revenue 779000 250 Variable Expenses Selling Expense 20254 6.5 | Administrative Expense 38950 12.5 | Cost of Goods Sold 334500 Total Variable Expenses 719796 231 Contribution Margin 719796 231 Fixed Expenses | Administrative Expense 12150 T Selling Expense 4466 Total Fixed Expenses 16616 TOperating Income 703180 Your answer is partially correct. Try again. Using the format y = mx + b, develop a cost formula for total expenses. (Round unit cost to 2 decimal places, e.g. 52.75 and all other answers to places, e.g. 5,275.) 75820 16618 Operating expenses = XS LINK TO TEXT LINK TO TEXT LINK TO VIDEO LINK TO VIDEO x Your answer is incorrect. Try again. If 3,100 coats are sold next month, what is the expected total contribution margin? (Round answer to o decimal places, e.g. 5,275.) 75820 Contribution margin $l