THE FOLLOWING APPLIES TO ALL QUESTIONS ON THIS PAGE: HINT: this is almost identical to exercise 1 in the videos; check it out again if you have trouble here ABC Company has the following product cost information: Variable cost of goods sold = $6.00 per unit Variable selling and administrative costs = $2.00 per unit Fixed cost of goods sold = $7,000 total Fixed selling and administrative costs = $2,000 total Sales revenue = $20.00 per unit The questions that follow below are calculations that would need to be made to create a contribution margin income statement such as the following (again, almost identical to exercise 1 in the videos): 1,000 units Per unit % Sales revenue Less: variable costs Contribution margin Less: fixed costs Net income Calculate total sales revenue if the number of units sold is 1,000 units. Answer: Calculate total variable costs if the number of units sold is 1,000 units. Answer: Calculate total contribution margin if the number of units sold is 1,000 units. Answer: Calculate net income if the number of units sold is 1,000 units. Answer: Calculate the contribution margin per unit. Answer: Calculate the contribution margin ratio. Enter the percentage as a decimal to three decimal places (e.g., 62.5% would be .625)