Exercise $3-4$A $($Algo$)$ Determining variable cost from incomplete cost data LO $3-1$

Thornton Corporation produced $220,000$ watches that it sold for $$17$ each during year $2.$ The company determined that fixed manufacturing cost per unit was $$8$ per watch. The company reported a $$880,000$ gross margin on its year $2$ financial statements.

Required

Determine the variable cost per unit, the total variable cost, and the total contribution margin.

Answer is complete but not entirely correct.

$\backslash$table$[[$Variable cost per unit,$$2,860,000ox$