Can you please go in-depth for part two and give an explanation as to how it's done.

EXERCISE 3-5 Cost Behaviour; Contribution Format Income Statement [101, 103] Wave Runners is a boat rental business that has the following costs over the relevant range of 12,000 to 18,000 operating hours for its boats: Operating Hours 12,000 14,000 16,000 18,000 ? ? ? $ 54,000 504,000 $558,000 ? ? ? ? ? ? Total costs: Variable costs Fixed costs Total costs Cost per unit: Variable cost Fixed cost Total cost per hour ? ? ? ? ? ? ? ? ? ? ? ? Required: 1. Complete the schedule of the company's total and unit costs above. 2. Assume that Wave Runners rents its boats for $40 per hour and had 15,000 hours of rentals last year. Prepare a contribution format income statement for the year