Homework Answers
a. Contribution margin = Revenues - Variable costs
= Revenues - (Variable manufacturing costs + Variable non manufacturing costs)
= $16,000 - ($8,000 + $2,000)
= $6,000
b. Gross margin = Revenues - Cost of goods sold
= Revenues - (Variable manufactruing costs + Fixed manufacturing costs)
= $16,000 - ($8,000 + $4,000)
= $4,000
c. Operating income = Revenues - Variable costs - Fixed costs
= $16,000 - ($8,000 + $2,000) - ($4,000 + $1,200)
= $800
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