Baxtell Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: $ -47 30 20 4 Variable conts per uniti Manufacturing: Direct materials Direct Labour Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expense 305,100 199,500 During the year, the company produced 33,900 units and sold 28,500 units. The selling price of the company's product is $72 per unit Required: 1. Assume that the company uses absorption costing. a. Compute the unit product cost Unit product cost $ 53 b. Prepare an income statement for the year. (Do not leave any empty spaces; Input a wherever it is required.) 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 cost