in 2016: Sales, 5,000 units @ $10 each Total production, 7,500 units Selling and administrative costs:

in

2016:
Sales, 5,000 units @ $10 each

        Total production, 7,500 units

        Selling and administrative costs:

     Fixed                 $1,000

                 Variable                       $1 per unit

        Production costs per unit:

     Direct materials            $2.00

                 Direct labor                   $2.00

                 Variable overhead        $1.00

        Fixed manufacturing overhead       $7,500

Alpha Company uses direct (variable) costing. Use this information to determine for Alpha Company the FY 2016: (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units)

1. Contribution Margin
2. Net Income
3. Cost of Ending Inventory

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