Required information The following information applies to the questions displayed below.) Burchard Company sold 29,000 units of its only product for $19.20 per unit this year. Manufacturing and selling the product required $288,000 of fixed costs. Its per unit variable costs follow. Det materials $ 3.40 ut labor wariable overhead costs Variable selling and administrative costs 6.14 For the next year, management will use a new material, which will reduce direct materials costs to $102 per unit and reduce direct labor costs to $1.68 per unit Sales, total fixed costs, variable overhead costs per unit, and variable selling and administrative costs per unit will not change Management is also considering raising its selling price to $24.96 per unit, which would decrease unit sales volume to 24,650 units. 2.00 0.34 2. Prepare a contribution margin income statement for next year with two columns showing the expected results of tajusing the new material and (b) using the new material and increasing the selling price BURCHARD COMPANY Contribution Margin Income Statement With new material With new material and price increase Number of units: 20,000 24 650 Contribution margin Fixed costs 0 Fixed costs Income 0 s OS