Question: I need help with this general accounting problem using proper accounting guidelines. Meridian Manufacturing produces a single product. Last year, Meridian manufactured 42,500 units and

I need help with this general accounting problem using proper accounting guidelines.

Meridian Manufacturing produces a single product. Last year, Meridian manufactured 42,500 units and sold 42,500 units. Production costs for the year were as follows: Direct materials $382,500 Direct labour $276,250 Variable manufacturing overhead $318,750 Fixed manufacturing overhead ($425,000 Sales totaled $1,912,500 for the year, variable selling and administrative expenses totaled $170,000, and fixed selling and administrative expenses totaled $255,000. There was no beginning inventory. Assume that direct labor is a variable cost. The contribution margin per unit was

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