The cost accountant for the Larsen Manufacturing Co. has provided you with the

The cost accountant for the Larsen Manufacturing Co. has provided you with the following information for the month of July:

Variable.Cost per unit Total Fixed Costs

Direct Labor $27.50

Direct Materials 84.75

Manufacturing Overhead 14.25 $120000

Marketing Costs 5.30 50000

Administrative Costs 2.90 75000

Selling Price 210.00

Required: Assuming the company produced and sold 5000 units and there were no units in inventory on July1 prepare the following income statements for the
month of July:

(a) Contribution margin income statement

(b) Gross margin income statement