Flow of Costs and Income Statement Ginocera uses a job order cost system to accumulate costs associated with the kitchen knife. The unit direct materials cost for the knife is as follows: Hardened steel blanks (used for knife shaft and blade) $1.80 Wood (for handle) 0.60 Packaging 0.60 Total completed production was 334,000 units during the year. Other information is as follows: Number of customers (stores) 14,200 Number of knives sold 283,900 Wholesale price (to store) per knife $16 In your computations, if required, round interim per unit costs to two decimal places. Required: 1. Prepare an annual income statement for the Kitchen Ninja knife series. Ginocera Inc. Income Statement For the Year Ended December 31, 20 Y8 Sales Cost of goods sold Gross profit Selling expenses: Infomercial campaign $1,336,000 Promotional materials Shipping expenses Total selling expenses Administrative expenses: Legal expenses 401,000 Total completed production was 334,000 units during the year. Other information is as follows: In your computations, if required, round interim per unit costs to two decimal places