Violins- by Sarah produces student-grade violins for beginning violin students. The company produced 2,100 violins in its first month of operations. At month-end, 650 finished violins remained unsold. There was no inventory in work in process. Viclins were sold for $115.00 each. Total costs from the month are as follows (Click on the icon to view the data.) The company prepares traditional (absorption costing) income statements for its bankers. Sarah would also like to prepare contribution margin income statements for management use Read the requirements. Compute the following amounts that would be shown on these income statements: Requirement 1. Gross Profit Identify the formula, then compute the gross profit. Data Table Gross profit Direct materials used Direct labor Variable manufacturing overhead Fixed manufacturing overhead. Variable selling and administrative expenses Fixed selling and administrative expenses S 82,200 S 60,000 S 30,000 S 44,100 S 11,000 S12,300 Requirement 2. Contnbution Margin Identify the formula, then compute the contribution margin. - Contribution margin Requirement 3. Totale s shown below the gross profit line Print Done Total expenses below the gross profit line =