D H 6 Sales B C E G 1 Stuart Manufacturing produces metal picture frames. The company's income statements for the last two years are presented below. 2 3 4 Last year This year 5 Units sold 56,600 83,200 $800,000 $1,120,000 7.Less. Cost of goods sold 550,000 720.000 8 Gross margin 250,000 410,000 9 Less Operating expenses 150,000 190.000 To Operating income $100,000 $220.000 11 12. The company has no beginning or ending inventories, therefore cost of goods sold will equal cost of goods manufactured 13 Al activity in this problem is within the company's relevant range of operation 14 Required 11 12 The company has no beginning or ending inventories, therefore cost of goods sold will equal cost of goods manufactured. 13 All activity in this problem is within the company's relevant range of operation 14 Required 15 (a) 16 Using the high-low method estimate the cost formula for TOTAL variable cost per unit and its TOTAL fixed costs 17 (Remember that this is a manufacturing firm). 18 19 TOTAL variable cost per unit 20 TOTAL fixed costs 21 22 (b) 23 24 Calculate the total contribution margin for this year