Kubin Company's relevant range of production is 23,000 to 27,500 units. When it produces and sells 25,250 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost per Unit $ 8.30 $ 5.30 $ 2.80 $6.30 $ 4.80 $ 3.80 $ 2.30 $ 1.80 Required: 1. For financial accounting purposes, what the total amount of product costs incurr to 250 s? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 25,250 units? 3. For financial accounting purposes, what is the total amount of product costs incurred to make 27,500 units? 4. For financial accounting purposes, what is the total amount of period costs incurred to sell 23,000 units? (For all requirements, do not round Intermediate calculations.) 1. Total amount of product costs 2. Total amount of period costs incurred 3. Total amount of product costs 4. Total amount of period costs Exercise 1-6 Traditional and Contribution Format Income Statements (L01-6) Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 12,000 16 $ 1 $ 2. $ 20,000 $ 15,000 $ 9,000 $ 22,000 $ 86,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement. Cherokee, Inc. Contribution Format Income Statement $ Sales 192,000 Variable expenses Required 1 Required 2 Prepare a contribution format income statement. Cherokee, Inc. Contribution Format Income Statement Sales $ 192,000 Variable expenses: Cost of goods sold Selling expenses Administrative expenses 73,000 25,000 38,000 136,000 70,000 Contribution margin Fixed expenses: Selling expenses Administrative expenses 20,000 15,000 35,000 Ending merchandise inventory Net operating income