Colton Dry Cleaners has determined the following about its costs: Total variable expenses are $42,000, total fixed expen

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Colton Dry Cleaners Has Determined The Following About Its Costs Total Variable Expenses Are 42 000 Total Fixed Expen 1 (22.19 KiB) Viewed 10 times

Colton Dry Cleaners has determined the following about its costs: Total variable expenses are $42,000, total fixed expenses are $30,000, and the sales revenue needed to break even is $50,000 Determine the company's current 1) sales revenue and 2) operating income. (Hint First, find the contribution margin ratio, then prepare the contribution margin income statement) Prepare the contribution margin income statement at the calculated sales level. Colton Drycleaners Contribution Margin Income Statement Sales revenue Less: Vanable expenses Contribution margin Less Fixed expenses Operating income (loss)