in 2016:

Sales, 5,000 units @ $10 each

Total production, 7,500 units

Selling and administrative costs:

Fixed $1,000

Variable $1 per unit

Production costs per unit:

Direct materials $2.00

Direct labor $2.00

Variable overhead $1.00

Fixed manufacturing overhead $7,500

Alpha Company uses direct (variable) costing. Use this information to determine for Alpha Company the FY 2016: (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units)

1. Contribution Margin

2. Net Income

3. Cost of Ending Inventory

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