Reference no: EM133104000

Question - Assume Jacob Garzon sales his photographs for $20 each and incurs the variable expenses per photograph shown below.

Cost of goods sold 6.00

Salaries and wages expense 2.00

Postage expense 1.50

Assume his fixed expenses are as follows:

Cost of goods sold $4,000

Advertising $ 600

Salaries and wages expense $10,000

Insurance expense $1,500

Depreciation expense $1,300

Prepare a contribution format income statement assuming Jacob sells 4,000 photographs. You can prepare the income statement in WORD or EXCEL.