no e Blog * Exercise 7-35 Basic Break-Even Calculations 1000323 Suppose that Larimer Company sells a product for $24. Unit costs are as follows: Direct materials $4.98 Direct labor Variable factory overhead 1.00 Variable selling and administrative expense 2.00 Total fixed factory overhead is $26,500 per year, and total fixed selling and administrative 2.10 expense is $15,260. Required: 1. Calculate the variable cost per unit and the contribution margin per unit. 2. Calculate the contribution margin ratio and the variable cost ratio. 3. Calculate the break-even units. 4. Prepare a contribution margin income statement at the break-even number of units