Lake City, Inc In the First Year, the Tin Pincher Was Used 4

Essay

Lake City, Inc.sold 800 contracts at $400 each.Each contract permitted the buyer to use a tin pincher 16 times and a glass finisher 20 times.Cost information follows:
$\begin{array} { l l l } \text { Initial direct costs } & \$ 8,000 & \\\text { Annual indirect costs } & 5,000 & \\\text { Direct cost per service use: } & \\& \text { Tin pincher } & 4 \\&\text { Glass finisher }& 60\end{array}$
In the first year, the tin pincher was used 4, 500 times and the glass finisher was used 4, 800 times.
Required:
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