Chuck Wagon Grills, Inc., makes a single producta handmade specialty barbecue grill that it sells for $220. Data for last years operations follow: Units in beginning inventory 0 Units produced 9,700 Units sold 9,200 Units in ending inventory 500 Variable costs per unit: Direct materials $ 61 Direct labor 33 Variable manufacturing overhead 11 Variable selling and administrative 16 Total variable cost per unit $ 121 Fixed costs: Fixed manufacturing overhead $ 281,300 Fixed selling and administrative 520,000 Total fixed costs $ 801,300 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.