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D'Souza Company sold 10,000 units of its product at a price of $80 per unit. Total variable cost is $50 per unit, consisting of $40 in variable production cost and $10 in variable selling and administrative cost. Compute the contribution margin for this company. Answer is complete but not entirely correct. Total D'SOUZA COMPANY Contribution Margin Units Sales 10,000 Less: Variable selling and administrative 10,000 cost Variable production cost 10,000 $ per unit 80.00 $ $ 800,000 $ 40.00 400,000 100,000 $ 10.00 X Contribution margin $ 300,000 Diaz Company reports the following variable costing income statement for its single product. This company's sales totaled 50,000 units, but its production was 80,000 units. It had no beginning finished goods inventory for the current period. $3,000,000 Diaz COMPANY Income Statement (Variable Costing) Sales (50,000 units x $60 per unit) Variable expenses Variable manufacturing expense (50,000 units x $28 per unit) Variable selling and admin. expense (50,000 units * $5 per unit) 1,400,000 250,000 Total variable expenses 1,650,000 1,350,000 Contribution margin Fixed expenses Fixed overhead Fixed selling and administrative expense 320,000 160,000 Total fixed expenses 480,000 Net income $ 870,000 1. Convert Diaz's variable costing income statement to an absorption costing income statement. Answer is not complete. DIAZ COMPANY Absorption Costing Income Statement Sales $ 30,000 Less: Cost of goods sold Fixed overhead costs 2.000 x Variable manufacturing costs 14,000 Cost of goods sold 16.000 Selling general and administrative expenses Variable selling and administrative expenses Fixed selling and administrative costs 2,500,000 0 000 1,600,000 4.100.000 Total fixed expenses Net income loss)