All of the numbers and section titles are just guesses, please correct.

Baxtell Company manufactures and sells a single product. The following costs w incurred during the company's first year of operations: Variable costs per unit: Manufacturing: Direct materials $ 29 Direct labour 22 Variable manufacturing overhead 6 Variable selling and administrative 7 Fixed costs per year: Fixed manufacturing overhead 237,150 Fixed selling and administrative 154,000 expense During the year, the company produced 26,350 units and sold 22,000 units. 1 selling price of the company's product is $84 per unit. Required: 1. Assume that the company uses absorption costing. a. Compute the unit product cost. Unit product cost $ 66 b. Prepare an income statement for the year. Absorption Costing Income Statement Sales $ 1,848,000 + $ 0 Cost of goods sold: Beginning inventory Add: Cost of goods manufactured Goods available for sale 1,739,100 1,739,100 287,100 Less: Ending inventory Gross margin Selling and administrative expenses Operating income 1,452,000 396,000 308 000 $ 88,000 2. Assume that the company uses variable costing. a. Compute the unit product cost. Unit product cost $ 57 b. Prepare an income statement for the year. Variable Costing Income Statement Sales 0 0 Variable expenses: Variable cost of goods sold: Beginning inventory Add: Variable manufacturing costs Goods available for sale Less: Ending inventory Variable cost of goods sold Variable selling expense Contribution margin Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative Variable selling expense Operating income 0 0 0 0