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I need help filling in 1.b and 2.b. Thank You! Baxtell Company manufactures and sells a single product. The following costs were incurred during the

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I need help filling in 1.b and 2.b. Thank You!

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 35,350 units and sold 30,200 units. The selling price of the company's product is $89 per unit. Required: 1. Assume that the company uses absorption costing. a. Compute the unit product cost. b. Prepare an income statement for the year. (Do not leave any empty spaces; input a 0 wherever it is required.) \begin{tabular}{|l|r|r|r|} \hline \multicolumn{1}{|l|}{} & Answer is not complete. \\ \hline \multicolumn{1}{|c|}{ Absorption Costing Income Statement } \\ \hline Sales & & & $2,687,800 \\ \hline Cost of goods sold: & & & \\ \hline Beginning inventory & & & \\ \hline Add: Cost of goods manufactured & & & \\ \hline Goods available for sale & & & \\ \hline Less: Ending inventory & & & 2,687,800 \\ \hline Gross margin & & & \\ \hline Selling and administrative expenses & & $2,687,800 \\ \hline Operating income & & \\ \hline \end{tabular} 2. Assume that the company uses variable costing. a. Compute the unit product cost. Answer is complete and correct. b. Prepare an income statement for the year. (Do not leave any empty spaces; input a 0 wherever it is required.)

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