Preparing a contribution income statement

Question

Problem: The following information is available for Nicole's Toy Manufacturing Company for 2004:

                                                                                               Percent             Percent

                                                                         Amount           Fixed                Variable

Direct material                                                 $440,000               -                      100

Direct labor                                                         90,000               -                      100

Variable manufacturing overhead                          70,000               -                       100

Fixed manufacturing overhead                             800,000             100                      -

Selling cost                                                         950,000             45                      55

Administrative cost                                              570,000             85                       15

Sales for 2004 totaled $3,164,000 and there were no beginning or ending inventories.

Required: Prepare a contribution income statement for the year ended December 31, 2004.