Meyer Company reports the following information for March:
Net Sales Revenue .................................. $ 45,300
Variable Cost of Goods Sold ........................ 12,500
Fixed Cost of Goods Sold ........................... 11,800
Variable Selling and Administrative Costs ........ 14,000
Fixed Selling and Administrative Costs ............. 5,400
Requirements
1. Calculate the gross profit and operating income for March using absorption costing.
2. Calculate the contribution margin and operating income for March using variable costing?