Baxtell Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: 28 16 Variable costs per unit Manufacturing Direct materia Direct Labour Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Pixed manufacturing overhead Fixed selling and administrative exponse 489,750 216,800 During the year, the company produced 32,650 units and sold 27100 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 produd Cost b. Prepare an income statement for the year. (Do not leave any empty spaces; input a 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 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 Variable expenses: Variable cost of goods sold: Variable cost of goods sold Fixed expenses