The Following Is Allison Corporation's Contribution Format Income Statement for December

The following is Allison Corporation's contribution format income statement for December 2014:
$\begin{array}{|l|r|}\hline \text { Sales } & \$ 800,000 \\\hline \text { Less: variable expenses } & 300,000 \\\hline \text { Contribution margin } & 500,000 \\\hline \text { Less: fixed expenses } & \$ 400,000 \\\hline \text { Operating income } & \$ 100,000 \\\hline\end{array}$

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