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Kelly Company's most recent contribution format income statement is shown below: Sales (60,000 Units) total:$600,000...

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Accounting

Kelly Company's most recent contribution format income statement is shown below:

Sales (60,000 Units) total:$600,000 per unit:$10

Variable Cost total: 360000 per unit:6

Contribution Margin total:240,000 per unit:4

Fixed Cost total:100,000

Operating Income total:140,000

prepare a new contribution format income statement under each of the following conditions (consider each case independently):

.b) The selling price decreases by $1 per unit, and the number of units sold increases by 20%.

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