Pacheco Pachinko Manufacturing Income Statement for the Month Ending February 28, 2017 120,000 Sales (4,000 units at $30 each) Less Manufacturing Costs Direct Material Direct Labor Variable Factory Overhead Fixed Factory Overhead 24,000 30,000 6,000 15,000 75,000 Gross Margin 45,000 Less Selling & Admin Expense Variable Selling & Admin Fixed Selling & Admin 12,000 21,000 33,000 12,000 Net Operating Income Contribution Margin Format Income Statement Sales