Read the requirements.

Requirement $1.$ Prepare contribution margin income statements at sales levels of $$200,000$ and $$480,000.($Hint: Use the contribution margin ratio.$)$

Begin by preparing the contribution margin income statement at the $$200,000$ level. $($Round the variable expense rate to the nearest whole percent. Enter losses with a mi

Aussie Travel

Contribution Margin Income Statement

Three Months Ended March $31$

Sales revenue

Less: Variable expenses

Contribution margin

Less: Fixed expenses

Operating income $($loss$)$

Requirements

Now prepare the contribution margin income statement at the $$480,000$ level. $($Round the variable expense rate to the nearest whole percent.

Aussie Travel

Prepare contribution margin income statements at sales levels of $$200,000$

and $$480,000.($Hint: Use the contribution margin ratio.$)$

Contribution Margin Income Statement

Compute breakeven sales in dollars.