Question 29: Salazar Electronics Corporation makes cell phones. Their records for the month of March are as follows:

1600 units were sold

Total Sales $800,000.

Total Variable Costs $480,000.

Total monthly fixed costs $200,000

Selling price for one unit (one cell phone) is $500.

Variable cost of one unit is $300.

Part A: Use the information provided above to prepare a Contribution Income Statement to show Net Income (5 points)

Part B: What is the Contribution Margin? Answer in Dollars: (1 points)