Please show your work (how you arrive at) for your choice. Each is worth 5 marks. 1) The following information for the past year for the Toyota Toy Corporation has been provided:

Fixed costs:
Manufacturing	$120,000
Marketing	18,000
Administrative	15,000
Variable costs:
Manufacturing	$119,000
Marketing	24,000
Administrative	38,000

During the year, the company produced and sold 70,000 units of product at a selling price of $11.25 per unit. There was no beginning inventory of product at the beginning of the year. What is the contribution margin for the year?