Variable Cost Ratio, Contribution Margin Ratio Instructions Amount Descriptions Ratios Contribution Margin Income Statement Instructions Head-First Company plans to sell 4,400 bicycle helmets at $84 each in the coming year. Unit variable cost is $50.40 (includes direct materials, direct labor, variable factory overhead, and variable selling expense). Fixed factory overhead is $19,000 and fixed selling and administrative expense is $30,300 Required: 1. Calculate the variable cost ratio. 2. Calculate the contribution margin ratio 3. Prepare a contribution margin income statement based on the budgeted figures for next year in a column next to the income statement, show the percentages based on sales for sales, total variable cost, and total contribution margin