Baxtell Company manufactures and sells a single product. The following costs were incurred during the company's first

year of operations:

During the year, the company produced $36,800$ units and sold $29,000$ units. The selling price of the company's product

is $$82$ per unit.

Required:

Assume that the company uses absorption costing.

a$.$ Compute the unit product cost.

Unit product cost $$61$

b$.$ Prepare an income statement for the year. $($Do not leave any empty spaces; input a $0$ wherever it is required.$)$

Assume that the company uses variable costing.

a$.$ Compute the unit product cost.