Contribution format income statement Palmer/Davis Designs sells customized mobile phone covers. The companys controller prepared the following income statement for the upcoming monthly management meeting.

Sales revenue $87,000

Cost of goods sold $24,070

Variable selling expenses 7,540

Variable general and administrative expenses 17,980

Total variable expenses 49,590

Contribution margin 37,410

Fixed selling expenses 6,300

Fixed general and administrative expenses 18,400

Total fixed expenses 24,700

Operating income $12,710

Required

Assume that Palmer/Davis sells its phone covers for $15 each. How many covers did the company sell? What is the companys contribution margin per unit? What is the companys contribution margin ratio?