APPLY THE CONCEPTS: Prepare a contribution margin income statement Assume that you are part of the accounting team for Clapton Hardware. The company has only one product that sells for $25 per unit. Capton estimates total materials cost of $6.00 per unit, direct labor costs of $7.50 per unit, and variable overhead costs of $1.50 per unit. The CEO would like to see what the gross n ) sold in the next penod. Prepare a contribution margin income statement. Clapton Hardware Contribution Margin Income Statement s 126,000 x Sales Less: Variable costs v Contribution margi Less: Fixed costs Operating income Apply the numbers given in this section to the format determined in the section azove evenues wis be equa to the unt saies pripe simes the number of units sold. The total vanable cost ws be equai to the ora APPLY THE CONCEPTS: Prepare a contribution margin income statement Assume that you are part of the accounting team for Clapton Hardware. The company has only one product that sells for $25 per unit. Capton estimates total materials cost of $6.00 per unit, direct labor costs of $7.50 per unit, and variable overhead costs of $1.50 per unit. The CEO would like to see what the gross n ) sold in the next penod. Prepare a contribution margin income statement. Clapton Hardware Contribution Margin Income Statement s 126,000 x Sales Less: Variable costs v Contribution margi Less: Fixed costs Operating income Apply the numbers given in this section to the format determined in the section azove evenues wis be equa to the unt saies pripe simes the number of units sold. The total vanable cost ws be equai to the ora