E5-3 Calculating Contribution Margin and Contribution Ratio, Preparing Contribution Margin Income Statement [LO 5-5] Morning Dove Company manufactures one model of birdbath, which is very popular. Morning Dove sells all units it produces each month. The relevant range is 02,100 units, and monthly production costs for the production of 1,600 units follow. Morning Dove's utilities and maintenance costs are mixed with the fixed components shown in parentheses. Production Costs Direct materials Direct labor Utilities ($110 fixed) Utilitervisor's sala Total Cost $ 2,500 6,900 560 2,700 480 700 fixed) Maintenance ($260 fixed) Depreciation Suppose it sells each birdbath for $24. Required: 1. Calculate the unit contribution margin and contribution margin ratio for each birdbath sold. (Round Variable cost per unit to 2 decimal places. Enter all amounts as positive values.) = Unit Contribution Margin per Birdbath = Contribution Margin Ratio 2. Complete the contribution margin income statement assuming that Morning Dove produces and sells 1,800 units. (Round your intermediate calculation to two decimal place.) MORNING DOVE COMPANY Contribution Margin Income Statement Expected for 1,800 Units Contribution Margin Net Operating Income