Question about Contribution Income Statement Party company produces a picnic basket that is sold for $100 per unit. Assume the company produced and sold 4,000 baskets during July. There were no beginning or ending inventories. Variable and fixed costs follow. Variable costs per Unit Fixed Costs per Month Manufacturing Manufacturing overhead $35,000 Direct materials $25 Selling and administrative 68,000 Direct labor 15 Total $104,000 Manufacturing overhead 5 $45 Selling and administrative Total $49 4 Prepare a contribution income statement for July. Picnic Time Contribution Income Statement For the Month of July Sales Less: variable costs: Direct materials $ Direct labor Manufacturing overhead Selling and administrative Contribution Margin Less: fixed costs: Manufacturing overhead Selling and administrative Profit Show related calculations