Variable Costing Income Statement for a Service Company The actual and planned data for Broadwater Institute \& Technical School for the Fall term were as follows: Prepare a variable costing income statement showing the contribution margin and operating income for the Fall term. Broadwater Institute \& Technical School Variable Costing Income Statement For the Fall Term Line Item Description Revenue Variable costs: Registration, records, and marketing costs Instructional costs Total variable costs Contribution margin Depreciation on classrooms and equipment Operating income Amount