Chuck Wagon Grills, In., makes a single product-a handmade specialty barbecue grill that it sells for $210. Data for last year's operations follow: Units in beginning inventory Units produced 20,000 19,000 1,000 Units sold Units in ending inventory Variable costs per unit: Direct materials 50 Direct labor 80 Variable manufacturing overhead Variable selling and administrative 20 10 Total variable cost per unit 160 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 700,000 285,000 Total fixed costs 985,000 Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill. 2. Assume that the company uses absorption costing. Prepare an income statement for last year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill. Unit product cost Required 1 Required 2 Assume that the company uses absorption costing. Prepare an income statement for last year. Chuck Wagon Grills, Inc. Absorption Costing Income Statement 0 Net operating income(loss) 0