Pesavento Manufacturing Inc. has sales of $1,800,000 for the first quarter of 2011. In making the sales, the company incurred the following costs and expenses. Variable Fixed Cost of goods sold $760,000 $540,000 Selling expenses 95,000 60,000 Administrative expenses 79,000 66,000 Prepare a CVP income statement for the quarter ended March 31, 2011. (List amounts from largest to smallest e.g. 10, 5, 3, 2. Enter all amounts as positive amounts and subtract where necessary.) PESAVENTO MANUFACTURING INC. Income Statement For the Quarter Ended March 31, 2011 Sales $ Variable expenses Cost of goods sold $ Selling expenses Administrative expenses Total variable expenses Contribution margin Fixed expenses Cost of goods sold Administrative expenses Selling expenses Total fixed expenses Net income