Managerial Accounting, 3e ES C & C Sports Continuing Problem 2-28 UNIVERSAL SPORTS EXCHANGE Income Statement 52 Weeks Ended February 1, 2017 Per Unit Ratio Sales Less: variable expenses 1,039500 $20.00 100% Cost of goods sold 769,230 62,370 4.80 1.20 16.00 S 4.00 74% 6% 80% 20% udy Total variable expenses Contribution margin Less: fixed expenses 831,600 207,900 Selling 116,500 51,500 Total fixed expenses Operating income 168,000 S 39,900 Answer the following Your answer is correct What is Universal Sports Exchange's operating profit equation? (Round answers to 2 decimal places, e.g 52.75) 68000 operating profit your answer is correct. ir Universal Sports Exchange sells 55,000 jerseys, what total expense will be reported on the income statement? Total expenses 1763 29