(Answered) Question variable cost fixed cost contribution margin

Accounting

Question: Variable Cost, Fixed Cost, Contribution Margin Income Statement Head-First Company plans to sell 5,000 bicycle helmets at $75 each in the coming year. Product costs include: Direct materials per helmet $ 30 Direct labor per helmet 8 Variable factory overhead per helmet 4 Total fixed factory overhead 20,000 Variable selling expense is a commission of $3 per helmet; fixed selling and administrative expense totals $29,500.

Required: 1. Calculate the total variable cost per unit.

2. Calculate the total fixed expense for the year.

3. Prepare a contribution margin income statement for Head-First Company for the coming year.

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