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What is the contribution margin for the year

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Reference no: EM132498541

Here are data regarding Iron Industries' current year operations:

Units produced during year                        1,800

Units sold during year                                900

Selling price                                             $160 per unit

Variable manufacturing costs                       $62 per unit

Variable selling and administrative expenses    $5 per unit

Fixed manufacturing overhead                     $33,000 total

Fixed selling and administrative expenses          $8,000 total

Question 1: Using variable costing, what is the contribution margin for the year?

Reference no: EM132498541

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