Diamond Company produces three products, J, M, and Z. The following information is available for Diamond Company's most recent month of operations: Diamond Company: Sales revenue .... Total fixed costs .... Contribution margin ratio .. Product J: Sales revenue Variable costs.... Traceable fixed costs .. Product M: Variable costs .... Traceable fixed costs Product Z: Sales revenue .. Traceable fixed costs $864,000 $320,000 44% $386,000 $202,000 $124,000 $ 75,000 $ 39,000 $291,000 $ 47,000 Calculate the variable costs for Product Z during the most recent month AND the net income reported by Diamond Company during the most recent month.

Diamond Company produces three products, J, M, and Z. The following information is available for Diamond Company's most recent month of operations: Diamond Company: Sales revenue $864,000 Total fixed costs.. $320,000 Contribution margin ratio .... 44% Product J: Sales revenue..... $386,000 Variable costs... . $202,000 Traceable fixed costs $124,000 Product M: Variable costs.... .. $ 75,000 Traceable fixed costs. ... $ 39,000 Product Z: Sales revenue..... Traceable fixed costs.. Calculate the variable costs for Product Z during the most recent month. . $291,000 $ 47,000