Variable Costs, Contribution Margin, Contribution Margin Ratio Super-Tees Company plans to sell 17,000 T-shirts at $24 each in the coming year. Product costs include: Direct materials per T-shirt $8.40 Direct labor per T-shirt $1.68 Variable overhead per T-shirt $0.72 Total fixed factory overhead $38,000 Variable selling expense is the redemption of a coupon, which averages $1.20 per T-shirt; fixed selling and administrative expenses total $14,000. Required: 1. Calculate the following values: Round dollar amounts to the nearest cent and round ratio values to three decimal places (express the ratio as a decimal rather than a percentage). a. Variable product cost per unit 10.80 b. Total variable cost per unit 12 c. Contribution margin per unit 12 d. Contribution margin ratio 0.50 e. Total foxced expense for the year 52,000 2. Prepare a contribution-margin-based Income statement for Super-Tees Company for the coming year If required, round your per un wwers to the restent Super-Tees Company Contribution-Margin-Based Operating Income Statement For the Coming Year Total Per Unit Sales Total variable expense Total contribution margin Total fixed expense Operating Income 204,000 150,000 My Wor Remember a contribution margin income statement calculates contribution-margin not gross profit 3. What if the per unit selling expense increased from $1.20 to $2.557 Calculate new values for the following: Round dollar amounts to the nearest cent and round ratio values to four decimal places (express the ratio as a decimal rather than a percentage): 10.80 a. Variable product cost per unit 13.35 b. Total variable cost per unit 10.65 c. Contribution margin per unit 0.556 X d. Contribution margin ratio 5 52,000 e. Total fixed expense for the year