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How does the contribution format income statement look

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Reference no: EM132517625

Tesla, Inc. had the following income statement for last period:

Sales                                            $29,000

Cost of Sales (manufacturing)            11,000

Selling and General Administrative        2,000

Net Income                                     $16,000

  • If costs of sales was 70% variable and 30% fixed, and Selling and General Expense was 65% variable and 35% fixed.

Required:

Question a) How does the contribution format income statement look

Question b) Calculate its contribution margin percentage.

Reference no: EM132517625

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