Amount Descriptions Calculations Contribution Margin Income Statement Instructions Suppose that Larimer Company sells a product for $20. Unit costs are as follows: Direct materials $1.70 Direct labor 1.60 Variable factory overhead Variable selling and administrative expense 2.00 1.50 Total fixed factory overhead is $55,240 per year, and total fixed selling and administrative expense is $38,480. Required: 1. Calculate the variable cost per unit and the contribution margin per unit. 2. Calculate the contribution margin ratio and the variable cost ratio. 3. Calculate the break-even units. 4. Prepare a contribution margin income statement at the break-even number of units. Enter all amounts as positive numbers. Instructions Amount Descriptions Calculations Contribution Margin Income Statemen Instructions Amount Descriptions Su Refer to the list below for the exact wording of text items within your income statement. Amount Descriptions Operating income Operating loss Sales Total contribution margin Fixed cost Variable cost Calculations Shaded cels have feedback. X 1. Calculate the variable cost per unit and the contribution margin per unit. Round your answers to two decimal places Unit variable cost Unit contribution margin Points: 012 Feedback Check My Work Sum all variable unit costs to obtain unit variable cost and subtract unit variable cost from price to obtain unit contribution margin 2. Calculate the contribution margin ratio and the variable cost ratio Contribution margin to Variable cost ratio Points 0/2 Shar Calculations Contribution margin ratio Variable cost ratio Points: 012 Feedback Check My Work 3. Calculate the break-even units. Points: 011 Feedback Check My Work Break-even units = Total fixed cost / Unit contribution margin Instruction Amount Description Calculations Contribution Margin Income Statement Contribution Margin Income Statement Shaded cells have feed 4. Prepare a contribution margin income statement at the break-even number of units. Refer to the list of Amount Descriptions for the exact wording of text items wi your income statement. Enter all amounts as positive numbers Larimer Company Score: 0/51 Contribution Margin Income Statement At Break-Even Number of Units Printe /10