Chuck Wagon Grills, Incorporated, makes a single producta handmade specialty barbecue grill that it sells for $210. Data for last year's operations follow: Units in beginning inventory 6 Units produced 29,366 Units sold 19,666 Units in ending inventory 1,866 Variable costs per unit: Direct materials $ 56 Direct labor 86 Variable manufacturing overhead 26 Variable selling and administrative 16 Total variable cost per unit $ 153 Fixed costs: Fixed manufacturing overhead 5 ?69,B66 Fixed selling and administrative 2355999 Total fixed costs 5 9353399 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. Required 2 > Total variable cost per unit $ 160 Fixed costs: Fixed manufacturing overhead $ 700,000 Fixed selling and administrative 285,900 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. Prepare an income statement for last year. Chuck Wagon Grills, Incorporated Absorption Costing Income Statement Net operating income(loss) Total variable cost per unit $ 166 Fixed costs: Fixed manufacturing overhead $ 700, 900 Fixed selling and administrative 285,090 Total fixed costs $ 985, 900 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. Prepare an income statement for last year. Chuck Wagon Grills, Incorporated Absorption Costing Income Statement Advertising Beginning merchandise inventory Commissions Cost of goods sold Depreciation Required 1 Required 2 > Direct laborn... ...._._.1. '"'""""i= mm -u........._...........n. - Total variable cost per unit '5 159 Fixed costs: Fixed manufacturing overhead 5 768,660 Fixed selling and administrative 285,660 Total fixed costs $ 985,660 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 labs below. Required 1 Required 2 Assume that the company uses absorption costing. Prepare an income statement for last year. Direct materials Ending merchandise inventory Fixed manufacturing overhead Indirect labor I 0 Indirect materials Required '1 Purchases .1..._1..-_... _.._........u 1....\" -u........._. ...........r.. - Total variable cost per unit $ 153 Fixed costs: Fixed manufacturing overhead 5 188,660 Fixed selling and administrative 285,660 Total fixed costs $ 935,666 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 labs below. Required 1 Required 2 Assume that the company uses absorption costing. Prepare an income statement for last year. Indirect materials Purchases Sales Selling and administrative expenses Required 1 Variable manufacturing overhead Total variable cost per unit $ 160 Fixed costs: Fixed manufacturing overhead $ 700,060 Fixed selling and administrative 285,900 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. Prepare an income statement for last year. Chuck Wagon Grills, Incorporated Absorption Costing Income Statement $ Gross margin Contribution margin