Bob's Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs: Variable cost per unit Direct materials Direct labour $7.00 2.90 5.85 Variable selling and administrative expenses 3.55 Variable manufacturing overhead Fixed costs for year Fixed manufacturing overhead $401,940 Fixed selling and administrative expenses 239,700 Bob's Company sells the fishing lures for $27. During 2020, the company sold 70,400 lures and produced 95,700 lures. Your answer is correct. Assuming the company uses absorption costing, calculate Bob's manufacturing cost per unit for 2020. (Round answer to 2 decimal places, e.g. 15.25.) Manufacturing cost 19.95 per unit Prepare an absorption-costing income statement for 2020. BOB'S COMPANY Income Statement-Absorption Costing For the Year Ended December 31, 2020 Sales Less Cost of goods sold +A $ Less Cost of goods sold Net income +A