Current Attempt in Progress J Crane, Ltd. is a local coat retailer. The store's accountant prepared the following income statement for the month ended January 31: Sales revenue $ 782,600 Cost of goods sold 301,000 Gross margin 481.600 Operating expenses Selling expense $ 24,000 Administrative expense 51,000 75,000 Net operating income $ 406,600 Crane sells its coats for $260 each. Selling expenses consist of fixed costs plus a commission of $6.50 per coat. Administrative expenses consist of fixed costs plus a variable component equal to 5.50% of sales.Prepare a contribution format income statement for January. (Round per unit cost to 2 decimal places, e.g. 52.75 and all other answers to O decimal places, e.g. 5,275.) Per Unit ales Revenue 782,600 260 riable Expenses Cost of Goods Sold 301,000 100 Selling Expense 19,565 6.50 Administrative Expense v 43.043 i 14.30 tal Variable Expenses 363,608 120.80 ontribution Margin 418,992 $ 139.20 xed Expenses Selling Expense 4.435 i Administrative Expense 7,957 tal Fixed Expenses 12,392 perating Income $ 406,600(b) V Your answer is correct. Using the format y = mx + b, develop a cost formula for total expenses. (Round unit cost to 2 decimal places, e.g. 52.75 and all other answers to O decimal places, e.g. 5,275.) Operating expenses = 120.80 X 12,392 eTextbook and Media Attempts: unlimited (c) If 2,800 coats are sold next month, what is the expected total contribution margin? (Round answer to O decimal places, e.g. 5,275.) Contribution margin $