A manufacturing company that produces a single product has provided the following data concerning its most recent year of operations: Variable costs per unit:

Direct material $29

Direct labor $49

Variable manufacturing overhead $5

Variable selling and administrative $4

Fixed costs:

Fixed manufacturing overhead $36,500

Fixed selling and administrative $14,200

During the year, the company produced 7,300 units and sold 6,000 units. The selling price of the companys product is $200 per unit. Assume that the company uses variable costing:

a. Compute the unit product cost.

b. Prepare an income statement for the year.