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Island Novelties, Inc., of Palau makes two products, Hawaiian Fantasy and Tahitian Joy. Prosent revenue,...

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Accounting

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Island Novelties, Inc., of Palau makes two products, Hawaiian Fantasy and Tahitian Joy. Prosent revenue, cost, and salos data for the two products follow Selling price per unit Variable expenses per unit Number of units sold annually $ 12$ 120 $ 9$ 48 36,000 5,400 Fixed expenses total $437,000 per year. Required: 1. Assuming the sales mbx given above, do the following: a. Prepare a contribution format incom e statement showing both dollar and percent columns for each product and for the company as a whole. Island Noveities, Inc., Contribution Income Statement Tahitian Joy Total Hawalian Fantasy Amount Amount Amount %

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