Question 1 Guelph Manufacturing produces metal picture frames. The company's income statements for the last two years are presented below: Last Year This Year Units Sold 60,000 80,000 Sales Less: Cost of goods sold Cross margin Less: Operating expenses Net income $850,000 600.000 250,000 150.000 $100,000 $1.200.000 750.000 450,000 180.000 $270.000 The company has no beginning or ending inventories. Required: 2. Estimate the company's total variable cost per unit, and its total fixed costs per year. (Remember that this is a manufacturing firm) b. Compute the company's contribution margin for this year