The controller at Wesson Company's manufacturing plant has provided you with the following information for the first quarter's operations:

Direct materials $ $96$ per unit

Fixed manufacturing overhead costs $ $2,340,000$

Sales price $ $325$ per unit

Variable manufacturing overhead $ $37$ per unit

Direct labor $ $54$ per unit

Fixed marketing and administrative costs $ $270,000$

Units produced and sold during the quarter $45,000$

Variable marketing and administrative costs $ $4$ per unit

Required:

Prepare a gross margin income statement.

Prepare a contribution margin income statement.