Assume that a company's contribution margin ratio is 70% and the selling price is $12 per unit. If the company sells 60,000 units, what is the total variable cost? $216,000 $504,000 $380,000 None of those are correct. Question 8 (7 points) During the month of July, Coasting Company had cost of goods manufactured of $180,000, direct materials of $90,000, direct labour costs of $55,500, and manufacturing overhead costs of $39,000. The work-in-process balance at July 31 equaled $15,000. What was the work-in-process balance on July 1? $10,500 $9,500 $11,000 None of those are correct