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Please Answer both requirements Airborne Travel uses the contribution margin income statement internally. Airbome's first quarter results are as follows: (Click the icon to view
Please Answer both requirements
Airborne Travel uses the contribution margin income statement internally. Airbome's first quarter results are as follows: (Click the icon to view the income statement.) Airborne's relevant range is sales of between $140,000 and $650,000. Read the requirements Requirement 1. Prepare contribution margin income statements at sales levels of $250,000 and $430,000. (Hint: Use the contribution margin ratio.) Begin by preparing the contribution margin income statement at the $250,000 level. (Round the variable expense rate to the nearest whole percent. Enter losses with a minus sign or parentheses.) la Table B Airbome Travel 0 Requirements Contribution Margin Income Statement Three Months Ended March 31 Sales revenue 1. Prepare contribution margin income statements at sales levels of $250,000 and $430,000. (Hint: Use the contribution margin ratio.) Less: Variable expenses 2. Compute breakeven sales in dollars. Contribution margin Less: Fixed expenses Print Done Operating income (loss) Now prepare the contribution margin income statement at the $430,000 level. (Round the variable expense rate to the nearest whole percent 1 2 Airborne Travel Contribution Margin Income Statement Three Months Ended March 31 3 4 Sales revenue $ 550,000 192,500 5 Less: Variable expenses 6 Contribution margin $ Airborne Travel 357,500 7 Less: Fixed expenses 176,800 Contribution Margin Income Statement Three Months Ended March 31 Sales revenue 8 Operating income $ 180,700 Print Done Choose from any list or enter any number in the input fields and then continue to the next
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