During 2020, Rafael Corp. produced 27,120 units and sold 27,120 for $14 per unit. Suppose the accountant for Rafael Corp. uses normal costing and uses the budgeted volume of 45,200 units. Variable manufacturing costs were $6 per unit. Annual fixed manufacturing overhead was $54,240 ($3 per unit). Variable selling and administrative costs were $2 per unit sold, and fixed selling and administrative expenses were $36,160. The company expenses production volume variance to cost of goods sold in the accounting period in which it occurs.

Calculate the manufacturing cost per unit. (Round answer to 2 decimal places, e.g. 5.25.)

Manufacturing cost

$

per unit

Prepare a normal-costing income statement for the first year of operation.

Rafael Corp. Income StatementNormal Costing December 31, 2020For the Month Ended December 31, 2020For the Year Ended December 31, 2020
Cost of goods soldVariable costsGross marginOperating income before taxContribution marginSalesFixed costs				$
Variable costsFixed costsGross marginCost of goods soldSalesContribution marginOperating income before tax :
Beginning inventory Goods available for sale Ending inventory Selling and administrative expenses Costs of goods manufactured Cost of goods sold Volume variance		$
Add Less : Cost of goods soldBeginning inventoryVolume varianceSelling and administrative expensesCosts of goods manufacturedEnding inventoryGoods available for sale
Goods available for sale Ending inventory Selling and administrative expenses Volume variance Costs of goods manufactured Cost of goods sold Beginning inventory
Add Less : Ending inventoryBeginning inventoryCosts of goods manufacturedSelling and administrative expensesVolume varianceGoods available for saleCost of goods sold
Contribution marginOperating income before taxSalesFixed costsVariable costsCost of goods soldGross margin
AddLess : Costs of goods manufacturedEnding inventoryVolume varianceSelling and administrative expensesGoods available for saleCost of goods soldBeginning inventory
Fixed costsVariable costsCost of goods soldContribution marginSalesGross marginOperating income before tax				$