The following data are from the accounting records of Niles Castings for year 2.

 The following data are from the accounting records of Niles Castings for year 2.

 

Required:

a. Prepare a gross margin income statement.

b. Prepare a contribution margin income statement.

 

 

a. & b.

Variable manufacturing costs = $66,000 + $37,000 + $20,000 = $123,000

 

Thanks