Part 1 Lynbrook, Inc., a merchandise company, reported the following information based on 5,000 units sold: Sales $350,000 Beginning merchandise inventory $15,000 Purchases $170,000 Ending merchandise inventory $25,000 Fixed selling expense ? Fixed administrative expense $20,000 Variable selling expense $35,000 Variable administrative expense ? Contribution margin $90,000 Net operating income $22,000 Required: a) Prepare a contribution format income statement (including 3 line heading) b) Calculate the selling price per unit. c) Calculate the variable cost per unit. d) Calculate the contribution margin per unit and contribution margin %. e) Based on your answers above, estimate the Net Operating Income for the next period if the company expects sales to equal 8,000 units. Part 2 Lynbrook, Inc. reports the following information about its sales and cost of sales in a recent 10 week period. Period Units Sold Cost of Sales Units Period Sold Cost of Sales I.. 0 $2,500 2,000 $5,500 2 400 3,100 7 2,400 6,100 3. 800 3,700 8 2,800 6,700 4 1,200 4,300 9 3,200 7,300 5 1,600 4,900 10 3,600 7,900 Required: i. ii. Determine the total fixed costs per week and the variable costs per unit sold during this time period. Express your answer as a cost formula in the form Y=a+bx Based on your answer in part i, estimate the Cost of Sales during week 11 if the company expects sales to equal 5,000 units.