Chuck Wagon Grills, Inc., 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 Units sold Units in ending inventory Variable costs per unit: 20,000 19,000 1,000 Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Total variable cost per unit 50 80 20 10 160 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs 700,000 285,000 $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