Wave Runners is a boat rental business that has the following costs over the relevant range of 14,000 to 20,000 operating hours for its boats: Required: 1. Complete the schedule of the company's total and unit costs. (Round "Cost per hour" answers to 2 decimal places.) Total costs: Variable costs Fixed costs Total costs Cost per unit: cost Fixed cost Total cost per hour $ $ 14,000 42,000 856,800 898,800 Operating Hours 16,000 18,000 20,000 2. Assume that Wave Runners rents it boats for $57 per hour and had 17,000 hours of rentals last year. Prepare a contribution format income statement for the year.

Wave Runners is a boat rental business that has the following costs over the relevant range of 14,000 to 20,000 operating hours for its boats: Required: 1. Complete the schedule of the company's total and unit costs. (Round "Cost per hour" answers to 2 decimal places.) 2. Assume that Wave Runners rents it boats for $5 per hour and had 17,000 hours of rentals last year. Prepare a contribution format income statement for the year