Question 5 of 7 < > -/2 Current Attempt in Progress Assume University Athletic Ivanhoe Club sells T-shirts for $28 and anticipates selling 6,500 shirts during football season. The club purchases the shirts from a local dealer for $22.00. Budgeted fixed costs of $33,000 are made up of $3,500 of selling expense and the remainder is $17,500 administrative expense. The selling expenses include a sales commission of $0.20 per shirt. All other selling costs are fixed. Prepare an income statement in the contribution margin format. University Athletic Ivanhoe Club Income Statement eTextbook and Media Save for Later Attempts: 0 of 4 used Submit Answer