need 3-5

value: 10.00 points Biscayne's Rent-A-Ride rents two models of automobiles: the standard and the deluxe. Information follows: Rental price per day Variable cost per day Standard Deluxe $30.00 $38.00 10.50 15.20 Biscayne's total fixed cost is $18,500 per month Required: 1. Determine the contribution margin per rental day and contribution margin ratio for each model that Biscayne's offers. (Round your "Unit Contribution Margin" answers to 2 decimal places.) Standard Deluxe Unit Contribution Margin Contribution Margin Ratio 9.50 per Day 22.80 per Day 0:9% 2. Which model would Biscavne's prefer to rent