b. Prepare an income statement for the year. (Do not leave any empty spaces; input a 0 wherever it is required.) Required: 1. Assume that the company uses absorption costing. a. Compute the unit product cost. 2. Assume that the company uses variable costing. a. Compute the unit product cost. b. Prepare an income statement for the year. (Do not leave any empty spaces; input a 0 wherever it is required.) \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Variable Costing Income Statement } & \\ \hline Variable cost of goods sold: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Baxtell Company manufactures and sells a single product. The following costs were incurred during the company's first year of perations: During the year, the company produced 32,650 units and sold 27,100 units. The selling price of the company's product is $89 per unit. Required: . Assume that the company uses absorption costing. Compute the unit product cost