During 2020, Rafael Corp. produced 38,560 units and sold 38,560 for $14 per unit. Suppose the accountant for Rafael Corp. uses normal costing and uses the budgeted volume of 48,200 units. Variable manufacturing costs were $6 per unit. Annual fixed manufacturing overhead was $77,120 ($2 per unit). Variable selling and administrative costs were $2 per unit sold, and fixed selling and administrative expenses were $19,280. The company expenses production volume variance to cost of goods sold in the accounting period in which it occurs.

A. What is the manufacturing cost?

B. make a normal costing income statement for the first year of operation.