Violins-by-Hannah produces student grade violins for beginning violin students. The company produced 2,000 violins in s first mon of operations At month-end, 550 trished violins remained unsold There was no inventory in work in process Violins were sold for $110.00 each. Total costs from the month are as follows (Click on the icon to view the data) The company prepares traditional (atrorption costing) income statements for its bankers Hannah would also like to prepare contribution margin income statements for management use Read the requirements Compute the following amounts that would be shown on these income statements Requirement 1. Gross Profe Identify the formula, then compute the gross profit Gross prot Requirement 2 Contribution Margin identify the formula, then compute the contribution margin Contibution margin Requirement 3. tal expenses shown below the gross profit in Choose from any list or enter any number in the input fields and then continue to the next question Violins-by-Hannah produces student grade violins for beginning violin students. The company produced 2.000 violins in its first month of operations At month-end, 550 finished violins remained unsold There was no inventory in work in process Violins were sold $110.00 each Total costs from the month are as follows (Click on the icon to view the data) The company prepares traditional absorption conting) come statements for its bankers Hannah would also like to prepare contribution margin income statements for management use Read the requests Requirement & Total expenses shown below the contribution margin ine Total expenses below the contribution margin Requirement 5. Dolar value of ending inventory under absorption costing The do vale of ending mentery under absorption costing is $ Requirement 6. Dolar value of ending inventory under varatie costing The due of ending inventory under verte costing Requirement 7. Which income statement will have a higher operating come? by how much? Expan ncome statement will have a higher operating income by S The Under bonding Under varate costing, these co Choose from any hit or enter any number in the input fleich and then continue to the nest question