Following is relevant information for Snowdon Sandwich Shop, a small business that serves sandwiches: Total fixed cost per month $ 1,120.00 Variable cost per sandwich .75 Sales price per sandwich 5.50 During the month of June, Snowdon sold 480 sandwiches. Complete the contribution margin income statement for the month of June. (Round your final answers to the nearest whole dollar.)

Explanation:

                                    Snowdon Sandwich Shop

                     Contribution margin income statement

                                  For the month of June

The contribution margin income statement is presented below:

Sales (480 × 5.50)                                           $2,640

Less: Variable cost (480 × $0.75)                  ($360)

Contribution margin                                        $2,280

Less: Fixed cost                                               ($1,120)

Net income                                                      $1,160

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