Head-Finst Company plans to sell 5,200 bicycle helmets at $80 each in the coming year. Unit variable cost is $49.60 (indludes direct materials, direct labor, variable factory overhead, and variable selling expense). Fixed factory overhead is $21,000 and fied selling and administrative expense is $30,100 Required 1. Calculane the varable cost rato 2 Caicuate the contrbution margin ratio 3. Prepare a contibution margn income statement based on tme budgeted ngures for next year in a column next to the income statement snow he percentages based on sales for saies, total variaove cost, and toral contmbution margin Ratas He ha com 1. Calcutate me warlable GOst ratio EUR DOO Variable cost ratio 45%K Points: 0/1 oge 2 Calcuiate tne contributon margh rato. Contribution margin ratio Points 071 FICaD-st Company Contribution Margin Income Statement For th Coming Year Percent of Sales 2 Sales 3 Total variable cost 4 Total contribution margin s Total fixed cost 6 Operating income