Question: Absorption Costing Unit Product Cost and Income Statement Refer to the data in Exercise 78 for Chuck Wagon Grills. Assume in this exercise that the

Absorption Costing Unit Product Cost and Income Statement Refer to the data in Exercise 7—8 for Chuck Wagon Grills. Assume in this exercise that the company uses absorption costing.

Required:

1. Compute the unit product cost for one barbecue grill.

2. Prepare an income statement.

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