Post-Class Quiz - Chapter 8 Saved Baxtell Company manufactures and sells a single product. The following costs were incurred during the company's first year of 18 operations: Variable costs per unit: Manufacturing: Direct materials 00:49:43 Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead 375,006 Fixed selling and administrative expense eBook 157, 200 During the year, the company produced 31,250 units and sold 26,200 units. The selling price of the company's product is $88 per unit. Required: 1. Assume that the company uses absorption costing. a. Compute the unit product cost. Unit product cost b, Prepare an income statement for the year. (Do not leave any empty spaces; input a 0 wherever it is required.) Absorption Costing Income Statement Cost of goods sold: Grow Type here to search 18 C C18 2. Assume that the company uses variable costing a. Compute the unit product cost. Unit product cost 00:49:25 eBook b. Prepare an income statement for the year. (Do not leave any empty spaces; input a 0 wherever it is required.) Variable Costing Income Statement Sales Variable expenses: Variable cost of goods sold: 0 Variable cost of goods sold O Fixed expenses 0 Mc Type here to searchFixed manufacturing overhead 375,906 Fixed selling and administrative expense 157, 200 18 During the year, the company produced 31,250 units and sold 26,200 units. The selling price of the company's product is $88 per unit. Required: 1. Assume that the company uses absorption costing. 00:49:15 a. Compute the unit product cost. Unit product cost Book b. Prepare an income statement for the year. (Do not leave any empty spaces; input a 0 wherever it is required.) Absorption Costing Income Statement Cost of goods sold: Type here to search