A company manufactures and sells a single product. The following information is available for the year ended December 31, 2022:

• Sales revenue: $1,500,000
• Variable cost per unit: $50
• Fixed costs: $500,000
• Beginning inventory: 500 units
• Ending inventory: 400 units
• Production: 10,000 units

Calculate the following:

a) Contribution margin per unit b) Contribution margin ratio c) Net income for the year ended December 31, 2022