1) Boylston Corporation has provided the following data for its two most recent years of operation. The company makes a product that it sells for $75 per unit. It began Year 1 with no units in beginning inventory. Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year Selling and administrative expenses: Variable selling and administrative expense per unit sold Fixed selling and administrative expense per year $13 $6 $4 $112,000 $5 $71,000 Units produced during the year Units sold during the year Units in ending inventory Year 1 Year 2 8,000 7,000 7,000 4,000 1,000 4,000 Required: a. Assume the company uses absorption costing. Compute the unit product cost in each year. b. Assume the company uses variable costing. Compute the unit product cost in each year. c. Assume the company uses absorption costing. Prepare an income statement for each year. d. Assume the company uses variable costing. Prepare an income statement for each year