During the year, the company produced $5,000$ units and sold $5,000$ units. The selling price of the company's product is $$50$ per unit.

a$)$ Assume that the company uses absorption costing. Compute the product cost per unit.

Product cost per unit $(\frac{34}{?}=$$$)$

o$)$ Assume that the company uses absorption costing. Prepare an income statement for the year.

NorthCo

Income Statement

For Year Ended July $31,2019$

Sales

Cost of goods sold

Gross profit $..$

Selling and administrative expenses

Net operating income $($loss$)...$

c$)$ Assume that the company uses variable costing. Compute the product cost per unit.

Product cost per unit $=$$

d$)$ Assume that the company uses variable costing. Prepare an income statement for the year.

NorthCo

Income Statement

For Year Ended July $31,2019$

Sales.

Variable expenses

Variable cost of goods sold

Variable selling and administrative expenses

Contribution margin.

Fixed expenses