Gulf Corp. recorded the following transactions for October $2019$:$$49470,0007130,000$

During the year, the company produced $10,000$ units and sold $5,000$ units. The selling price of the company's product is $$70$ per unit.

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

Product cost per unit $=$$

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

SouthCo

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.

SouthCo

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

a$.$ October $3$ : $$75,000$ in raw materials were purchased on account.

b$.$ October $6$ : $$60,000$ in raw materials were requisitioned for use in production as direct materials.

c$.$ October $9$:$$13,000$ of raw materials were used as indirect materials.

d$.$ October $15$ : Total labor wages of $$104,000$ were incurred for direct labor.

e$.$ October $19$ : Labor wages of $$10,000$ were incurred for indirect labor.

f$.$ October $21$ : Additional manufacturing overhead costs of $$180,000$ were incurred. All of these costs will be paid in the future.

would be $\frac{15}{?}$ Jan$).$