I believe the first part is correct but correct me if I am wrong please!

ter 11 Homework 6 Saved Help Save& AJ Manufacturing Company incurred $59,000 of fixed product cost and $47.200 of variable product cost during its first year of operation. Also during its first year, AJ incurred $18,700 of fixed and $14,800 of variable selling and administrative costs. The company sold all of the units it produced for $196,000. Required a. Prepare an income statement using the format required by generally accepted accounting Principles (GAAP) AJ MANUFACTURING COMPANY ok Income Statement nt Revenue $ 196,000 47,200 89,800 33,500 $ 56,300 nces ariable cost Gross margin Selling and administrative Net income oints b. Prepare an income statement using the contribution margin approach. eBook AJ MANUFACTURING COMPANY Print Income Statement References