Mathews Company manufactures only one product. For the year ended December 31, the contribution margin increased by $43,790 from the planned le $753,710. The president of Mathews Company has expressed some concern about this increase and has requested a follow-up report. The following data have been gathered from the accounting records for the year ended December 31: Difference- Increase Actual Planned (Decrease) Sales $1,537,000 $1,491,035 $45,965 Variable costs: Variable cost of goods sold $580,000 $606,245 $(26,245) Variable selling and administrative expenses 159,500 131,080 28,420 Total variable costs $739,500 $737,325 $(2,175) Contribution margin $797,500 $753,710 $43,790 Number of units sold 14,500 16,385 Per unit: Sales price $106 $91 Variable cost of goods sold 40 37 Variable selling and administrative expenses 11 8Required: 1. Prepare a contribution margin analysis report for the year ended December 31. Mathews Company Contribution Margin Analysis For the Year Ended December 31 Planned contribution margin Effect of changes in sales: Sales quantity factor Unit price factor Total effect of changes in sales Effect of changes in variable cost of goods sold: 100 0 Variable cost quantity factor Unit cost factor Total effect of changes in variable cost of goods sold Effect of changes in selling and administrative expenses: Variable cost quantity factor Unit cost factor Total effect of changes in selling and administrative expenses Actual contribution margin