Exercise 3-4A (Algo) Determining variable cost from incomplete cost data LO 3-1 Munoz Corporation produced 209,000 watches that it sold for $18 each during year 2. The company determined that fixed manufacturing cost per unit was $7 per watch. The company reported a $1,045,000 gross margin on its year 2 financial statements. Required Determine the variable cost per unit, the total variable cost, and the total contribution margin.

Exercise 3-4A (Algo) Determining variable cost from incomplete cost data LO 3-1 Munoz Corporation produced 209,000 watches that it sold for $18 each during year 2. The company determined that fixed manufacturing cost per unit was $7 per watch. The company reported a $1,045,000 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. Variable cost per unit Total variable cost Total contribution margin $ $ 2x 418,000 3,344,000