Solve this word problem with the information provided

APPL'F THE CONCEPTS: Prepare a contribution margin income statement Assume that you are part of the accounting team for Clapton Computing. The company has only one product that sells for $40 per unit. Clapton estimates total xed costs to be $9,000. Clapton estimates direct materials cost of $8.00 per unit, direct labor costs of $10.00 per unit, and variable overhead costs of $2.00 per unit. The CEO would like to see what the gross margin and operating income will be if 700 units are sold in the next period. Prepare a contribution margin income statement. Clapton Computing Contribution Margin Income Statement ) 5.... x Less: Variable costs or )0: Contribution margin \\f x Less: Fixed costs \\f x Operatingincome X