Variable costing income statement Sports Drinks, Inc. began business in the current year selling bottles of a thirst-quenching drink. Production for the first year was 145,600 bottles, and sales were 137,200 bottles. The selling price per bottle was $3.10. Costs incurred during the year were as follows: Ingredients used Direct labor Variable overhead Fixed overhead Variable selling expenses Fixed selling and administrative expenses Total actual cost $78,400 36,400 67,200 7,280 14,000 39,200 $242,480 For the year: a. What was the production cost per bottle under variable costing? $ 1.27 X X b. What was variable cost of goods sold? $ 173,600 c. What was the contribution margin per bottle? Note: Round your answer to two decimal places (for example, round $2.455 to $2.46). $ 1.73 X d. What was the contribution margin ratio? Note: Round your answer to the nearest whole percentage point. 56 %