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SunlandManufacturing Inc. had sales of $2.45 million for the first quarter of 2022. In making the sales, the company incurred the following costs and expenses:

SunlandManufacturing Inc. had sales of $2.45 million for the first quarter of 2022. In making the sales, the company incurred the following costs and expenses:

Variable

Fixed

Cost of goods sold

$916,000 $443,000

Selling expenses

72,000 43,500

Administrative expenses

89,000 95,500

Prepare a CVP income statement for the quarter ended March 31, 2022.

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