Adam Tools produces screwdrivers and had 1,700 in inventory at the beginning of the year. It has a variable manufacturing cost of $5.00 per unit, a variable selling cost of $0.75 per unit; a fixed manufacturing cost of $45,000 per year; and a fixed selling and administrative cost of $24,000 per year. The selling price is $14.00 per screwdriver. During the year, 18,000 screwdrivers were produced and 18,400 were sold. Assume the same unit costs in all years.

1.What is the product cost per screwdriver using variable costing?(Round answer to 2 decimal places, e.g. 15.25.)

2.What is the product cost per screwdriver using full costing?(Round answer to 2 decimal places, e.g. 15.25.)

3.an income statement using variable costing.

4.an income statement using full costing.