' Question Be I Global Music produces student-grade violins for beginning violin students. The company produced 2,600 violins in its first month of operations. a 'At month-end, 500 nished violins remained unsold. There was no inventory in work in process. Violins were sold for $122.50 each. Total costs from the month are as followsm l .J Data Table Direct materials used ........................ $ 112.600 Direct labour ............................... TO.UOD Variable manufacturing overhead .............. 28,000 Fixed manufacturing overhead ................ 59,800 Variable selling and administrative expenses ..... 8,000 Fixed selling and administrative expenses ....... 13,?00 .J I The company prepares traditional (absorption costing) income statements for its bankers. .J I . . . . . . Global would also like to prepare contribution margln Income statements for his own management used