please help me number it from 1-5 **Sorting Contribution Margin Income Statement Components****Objective:**Organize the elements of a contribution margin income statement in the correct hierarchical order, from top to bottom.**Items to Sort:**1. Sales Revenue2. Variable Costs3. Contribution Margin4. Fixed Costs5. Operating IncomeWhen aligning these components in the accurate sequence for a contribution margin income statement, they should be ordered as follows:1. **Sales Revenue**: Represents the total revenue generated from the sale of goods or services before any expenses are deducted.2. **Variable Costs**: Costs that vary directly with the level of production or sales volume (e.g., raw materials, direct labor).3. **Contribution Margin**: Calculated by subtracting variable costs from sales revenue. It indicates the portion of sales revenue that contributes to covering fixed costs and generating profit.4. **Fixed Costs**: Costs that remain constant regardless of the level of production or sales volume (e.g., rent, salaries).5. **Operating Income**: The profit earned from normal business operations after all variable and fixed costs have been deducted from sales revenue.**Visual Explanation:**The image provides a dropdown list with the following items to arrange:- Operating Income- Sales Revenue- Variable Costs- Contribution Margin- Fixed CostsTo ensure clarity and comprehension, it is essential to arrange these financial terms from the initial revenue generation step down to the final profit calculation:1. **Sales Revenue** (initial step, top)2. **Variable Costs** (subtracted from sales revenue to calculate contribution margin)3. **Contribution Margin** (sales revenue minus variable costs)4. **Fixed Costs** (subtracted from contribution margin to determine operating income)5. **Operating Income** (final profit measure, bottom)Understanding and organizing these components ensures accurate financial analysis and reporting within a business context.

In a Contribution Margin Income Statement, the variable cost are reduced from sales revenue to get…

Answered: Sort the following contribution margin…

Sort the following contribution margin income statement line items in the correct order from top down. V Operating income Sales revenue ✓ Variable costs ✓ Contribution margin Fixed costs

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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