connect Guided Example Hough Company manufactures and sells a single product. A partially completed schedule of the company's total and per unit costs over a relevant range of 80,000 to 120,000 units produced and sold each year is given below: Units produced and sold 100,000 80,000 120,000 Total costs: Variable costs Fixed costs Total costs $240,000 320,000 $560,000 Cost per unit: Variable cost Fixed cost Total cost per unit Required: 1. Complete the schedule of the company's total and unit costs. 2. Assume that the company produces and sells 110,000 units during the year at the selling price of $6.50 per unit. Prepare a contribution format income statement for the year. [LO4, LO6]