1 Weekly Check-in Assignment Name 2 Variable and Fixed Costs 3 4 Enter a formula or cell reference in every yellow cell. 5 6 NOTE: I did these for you to show you what I mean about formulas and cell references. 7 8 Tracey Company manufactures and sells a single product. A partially completed schedule 9 of the company's total and per unit costs over a relevant range of 60,000 to 100,000 units 10 produced and sold each year is given below: 11 12 Units produced and sold 60,000 80,000 100,000 13 14 Total costs: 15 Variable costs $150,000 $200,000 16 Fixed costs 360,000 360,000 17 Total costs: $510,000 $560,000 18 19 Cost per unit: 20 Variable cost $2.50 $2.50 21 Fixed cost $6.00 $4.50 22 Total cost ner iinit $8.50 $7.00 23 24 Required: 25 1. Complete the schedule above of the company's total and unit costs. 26 27 2. Prepare a contribution format income statement for the year given the scenarios 28 below: 29 30 Sales in units 90,000 100,000 90,000 120,000 31 Sales price per unit $7.50 $7.50 $6.00 $6.00 32 33 Sales $675,000 34 Variable expenses 225,000 35 Contribution margin 450,000 36 Fixed expenses 360,000 37 Net operating income (loss) $90,000