Baa-(tell Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: Variable costs per unit: Manufacturing: Direct materials 3 27 Direct labour 7 Variable manufacturing overhead 4 Variable selling and administrative 9 Fixed costs per year: Fixed manufacturing overhead 370.300 Fixed selling and administrative expense 133,200 During the year. the company produced 30,900 units and sold 22,900 units. The selling price of the company's product is $73 per unit. Required: 1. Assume that the company uses absorption costing. 5. 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.) Absorption Costing Income Statement Cost of goods sold: 2. Assume that the company uses variable costing. a. Compute the unit product cost. Unit product cost1:. Prepare an income statement for the year. (Do not leave any empty spaces: input a 0 wherever It is required.} Variable expenses: Variable oust of goods sold: Variable mat oi goods sold