$(10$ points$)$ The Dorset Corporation produces and sells a single product. The following data refer to the year just completed:

Beginning inventory

Units produced

Units sold

Selling price per unit

$5,47$

Selling and administrative expenses:

Variable per unit

Fixed per year

$5,4$

$$,58,000$

Manufacturing costs:

Direct materials cost per unit

Direct labor cost per unit

Variable manufacturing overhead cost per unit

Fixed manufacturing overhead per year

$\backslash$table$[[S,10],[S,6],[$$$,5],[S,90,000]]$

Assume that direct labor is a variable cost.

Required:

a$.$ Compute the unit product cost under both the absorption costing and variable costing approaches.

b$.$ Prepare an income statement for the year using absorption costing.

c$.$ Prepare an income statement for the year using variable costing.