Problem: Module 5 Textbook Problem 5 Learning Objective: 5-5 Prepare an income statement using the contribution margin approach Estrada Corporation produced 216,000 watches that it sold for $20 each. The company determined that fixed manufacturing cost per unit was $9 per watch. The company reported a $1,296,000 gross margin on its financial statements. Required Determine the variable cost per unit, the total variable product cost, and the total contribution margin