Sheridan Corporation has collected the following information after its first year of sales. Sales were $1,710,000 on 114,000 units; selling expenses $285,000 (40 % variable and 60% fixed); direct materials $582,540; direct labor $330,600; administrative expenses $307,800 (20% variable and 80% fixed); and manufacturing overhead $399,000 (70 % variable and 30% fixed). Top management has asked you to do a CVP analysis so that it can make plans for the coming year. It has projected that unit sales will increase by 10% next year. (a) (b) -Your answer is partially correct. Compute (1) the contribution margin for the current year and the projected year, and (2) the fixed costs for the current year. (Assume that fixed costs will remain the same in the projected year.) (1) Contribution margin for current year 342000 Contribution margin for projected year 513000 (2) Fixed costs for current year 855000 eTextbook and Media Save for Later Attempts: 2 of 3 used Submit Aver The parts of this question must be completed in order. This part will be available when you complete the part above