Problem:
Colen Corporation produces and sells a single product. In October, the company sold 2,000 units. Its total sales were $155,000, its total variable expenses were $80,100, and its total fixed expenses were $57,000.
Required:
Question 1: Construct the company's contribution format income statement for October.
Question 2: Redo the company's contribution format income statement assuming that the company sells 1,900 units.
Note: Please show the work not just the answer.