O Part II - Calculating the Unit Product Cost Under Absorption Costing and Preparing an Income Statement for the Last Year Using Absorption Costing Chuck Wagon Grills, Inc. makes a single product-a handmade specialty barbeque grill that it sells for $215. Data for last year's operations follow: 0 10,000 Units in beginning inventory Units produced during the year. Units sold during the year Units in ending inventory 9,100 900 Variable Costs per Unit: Direct materials $ 61 Direct labor 38 11 Variable manufacturing overhead Variable selling and administrative 16 Total Variable Costs per Unit: $ 126 Fixed Costs: $ 350,000 Fixed manufacturing overhead Fixed selling and administrative 500.000 Total Fixed Costs: $ 850,000 Download 1. Assume the company uses absorption costing. Calculate the total unit product cost for one barbeque grill. Identify the cost per unit for each cost component (and total cost per unit) below: a Materials: Labor: MOH: Total: 2. Prepare an income statement for last year using absorption costing. Assume the total unit product cost for one barbeque grill is $145. Chuck Wagon Grills, Inc. Absorption Costing Income Statement