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Based on the following information, prepare a contribution margin income statement assuming the company uses variable costing. Annual production Sales price Variable production cost per unit Direct materials 50,000 units $40 per unit $10 3 Direct labor $25 per unit Manufacturing overhead Fixed production costs 12. $150,000 each year; $3 per unit at 50,000 units of production Variable selling and administrative cost $1 per unit Fixed selling and administrative cost $100,000 each year Sales: А. Var. Production В. Var Selling & Admin 50,000 1,300,000 Contribution Margin С. Fixed Expenses: Fixed Mfg Overhead 150,000 Fixed Selling & Admin 100,000 250,000 Net Income D.

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AmishaSrivastava

The contribution margin income statement is mentioned along with the Operating profit of $450,000 in the first and second years.

What is an Income Statement?

One of the three crucial financial statements used to describe a company's financial performance throughout a certain accounting period is the income statement. The balance sheet and the cash flow statement are the other two important statements.

The revenue, costs, profits, and losses incurred by a corporation over a specific time period are the main topics of the income statement. An income statement also referred to as the profit and loss (P&L) statement or the statement of revenue and expenses, offers important information about a company's operations, the effectiveness of its management, underperforming industries, and its performance in comparison to peers in the same industry. The revenue, expenses, profits, and losses are the four main components of the income statement. It does not distinguish between receipts in cash and those in other forms of payment or disbursement.

To learn more about income statement from the given link

https://brainly.com/question/14308954

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