The accountant of a local retailer prepared the following income statement for the month ending October 31: The retailer sells its coats for $150 each. Selling expenses consist of a commission of $5 per coal plus fixed costs. Administrative expenses consist of a variable component in order to increase net operating income in the coming year, management is considering Increasing advertising expenses. What would be the total contribution margin reported on the contribution format income statement in October? $350,000 $300,000 $550,000 $212,000