Sales Less Less Contribution margin Cost of goods sold Fixed expenses: Gross margin Manufacturing Selling and administrative Total fixed expenses Total variable expenses Variable expenses Following is the income statement of Danube Company, a manufacturer of men's blue jeans: (Click the icon to view the income statement.) Danube had manufactured 1 million pairs of jeans, which had been sold to various clothing wholesalers and department stores. At the start of 20X0, the president, Maria Alberta, died unexpectedly. Her son, Luis, became the new president. Luis had worked for 15 years in the marketing phases of the business. He knew very little about accounting and manufacturing, which were his mother's strengths. Luis has several questions, including inquiries regarding the pricing of special orders. Read the requirements Requirement 1. To prepare better answers, you decide to recast the income statement in contribution form. Variable manufacturing cost was $15 million. Variable selling and administrative expenses, which were mostly sales commissions, shipping expenses, and advertising allowances paid to customers based on units sold, were $10 million. Prepare the revised income statement. (Enter per unit amounts to the nearest cent.) Total Per Unit Data Table x Sales Less Danube Company Income Statement for the Year Ended December 31, 20X0 Total Per Unit Sales $ 50,000,000 $ 20,000,000 50.00 20.00 Less Less: Cost of goods sold Gross margin Less selling and administrative expenses $ 30,000,000 $ 12,000,000 30.00 12.00 $ 18,000,000 $ 18.00 Operating income Operating income Choose from any list or enter any number in the input fields and then click Check Answer. Print Done