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Amount Descriptions Calculations Instructions Suppose that Larimer Company sells a product for $19. Unit...

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Accounting

Amount Descriptions
Calculations
Instructions
Suppose that Larimer Company sells a product for $19. Unit costs are as follows:
Direct materials
Direct labor
Variable factory overhead
Variable selling and administrative expense
$2.05
1.45
2.20
1.14
Total fixed factory overhead is $47,816 per year, and total fixed selling and administrative expense is $38,520.
Required:
Calculate the variable cost per unit and the contribution margin per unit.
Calculate the contribution margin ratio and the variable cost ratio.
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