Question 1 10 pts You are excited to start a new business to manufacture high end quilts. You are very excited and you are preparing some figured for your final negotiation with the bank. Your expected sales price will be $75.00 per unit. In the first month, you anticipate selling 1,750 units. Other information forecasted for the month includes: Variable manufacturing costs $20.00 per unit Variable marketing costs $3.00 per unit Fixed manufacturing costs $7.00 per unit Administrative expenses, all fixed $15.00 per unit Ending inventories: Direct materials -0- WIP -0- Finished goods 250 units Required: 1. What is cost of goods sold per unit using variable costing? 2. What is cost of goods sold using variable costing? 3. What is contribution margin using variable costing? 4. What is operating income using variable costing