Baxtell 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 Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs per yeart Fixed manufacturing overhead Fixed selling and administrative expenne 30 21 8 424,200 181,200 During the year, the company produced 35,350 units and sold 30,200 units. The selling price of the company's product is $89 per unit. Required: 1. Assume that the company uses absorption costing. a. Compute the unit product cost. Unit product b. Prepare an Income statement for the year. (Do not leave any empty spaces; Input a O wherever It Is required.) Absorption Couting Income Statement Cost of goods sold: es 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.) ed Variable Costing Income Statement ok Variable expenses: Variable cost of goods sold: ht ences Variable cost of goods sold Fixed expenses