Baxtell Company manufactures and sells a single product. The following costs were incurred during the company's list year of operations: 20 22 Variable costs per unit: Manufacturing: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expense 7 237,150 154,000 During the year, the company produced 26,350 units and sold 22.000 units. The 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 b. Prepare an income statement for the year. (Do not leave any empty spaces; input o o wherever it is required.) Absorption Costing income Statement Cost of goods sold 0 0 0 $ 0 2. Assume that the company uses variable costing a. Compute the unit product cost. Unit product cost b. Prepare an income statement for the year. (Do not leave any empty spaces; input a 0 wherever it is required.) Variable Costing Income Statement Vanable expenses Variable cost of goods sold 0 Vanable cost of goods sold 0 0 0 Fixed expenses 0 0