Question 8 of 11 0.07/1 11 View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct Richard Miller recently fulfilled his long-time dream of opening a gym that offers spinning exercise classes for S 10 per person. To differentiate his gym and better serve his clients, Richard provides a towel, a bottle of water, and an after-workout protein shake to each person participating in a class, at a cost of $ 1.81 per person. Richard employs four part-time instructors and pays them each $ 1.600 per month. He also pays himself a monthly salary of $ 6,100. Richard's other monthly costs are $ 2,100 for rent $ 1.550 for depreciation on his 30 bikes, and $ 1.550 in utilities and insurance. (a) What is Richard's contribution margin per unit? (Round answer to 2 decimal places, es, 52.75.) Contribution margin $ 8.19 per unit (b) What is Richard's contribution margin ratio? (Round answer to 2 decimal places, eg. 52.75) Contribution margin ratio 81.90 Question 8 of 11 0.07/1 (c) Prepare Richard's monthly contribution format income statement. Assume that he teaches 4,600 clients. (Round per unit values to 2 decimal places, e.g, 52.75 and all other answers to 0 decimal places, eg. 1.234.) Per Unit $ Sales Revenue IDO Question 8 of 11 > 0.07/1 A DODO OI $ e Textbook and Media