1. What is the operating income under variable costing?

2. What is contribution margin?

3. What is cost of goods sold?

Sales per Unit $150 Direct materials per unit $16 Direct labor per unit $21 Variable manufacturing overhead per unit $38 Total Fixed manufacturing overhead costs $50,000 Variable Selling and Administrative costs per unit $10 Total Fixed selling and Administrative costs $37,000 Units produced 1,000 units Units sold 1,000 units What is operating income under variable costing? Sales per Unit $150 Direct materials per unit $18 Direct labor per unit $29 Variable manufacturing overhead per unit $31 Total Fixed manufacturing overhead costs $80,000 Variable Selling and Administrative costs per unit $5 Total Fixed selling and Administrative costs $30,000 Units produced 1,000 units Units sold 1,000 units What is contribution margin? Sales per Unit $190 Direct materials per unit $13 Direct labor per unit $21 Variable manufacturing overhead per unit $39 Total Fixed manufacturing overhead costs $60,000 Variable Selling and Administrative costs per unit $6 Total Fixed selling and Administrative costs $30,000 Units produced 1,000 units Units sold 1,000 units What is cost of goods sold