Exercise 5 (10 Points): Baxtell Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: During the year, the company produced 25,000 units and sold 21,000 units. The selling price of the company's product is $65 per unit. Required: 1. Assume that the company uses absorption costing. a. Comnute the unit product cost. 2. Assume that the company uses variable costing. a. Compute the unit product cost. b. Prenare an income statement for the vear