Answer:
Explanation:
The preparation of the CVP income statement is shown below:
Bramble Inc
CVP income statement
For the quarter ended March 31, 2020
Sales (A) $2,059,000
Variable cost
Cost of goods sold $765,000
Selling expenses $96,500
Administrative expenses $83,700
Total Variable cost (B) $945,200
Contribution margin (A-B) / C $1,113,800
Fixed expenses
Cost of goods sold $607,000
Selling expenses $66,000
Administrative expenses $73,000
Total fixed cost (D) $746,000
Net income (C-D) $367,800
