Oriole Corporation has collected the following information after its first year of sales. Sales were $1,320,000 on 88,000 units; selling expenses $220,000(40% variable and 60% fuxed); direct materials $449,680; direct labor $255,200; administrative expenses $237,600(20% variable and 80% foxed); and manufacturing overhead $308,000(70% variable and 30% freed). Top management has asked you to do a CVP analysis so that it can make plans for the coming year. It has projected that unit sales will increase by 108 s next year. (a) X Your answer is incorrect: Compute (1) the contribution margin for the current year and the projected year, and (2) the fixed costs for the curtent year. (Assume that foxed costs will remain the same in the projected yeac) (1) Contribution margin tor current year Contribution marfin for projected year (2) Foxed costs for current year