Ravenclaw Relics manufactures and sells a single product. The following costs were incurred during the company's first year of operations Variable costs per unit: Manufacturing: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs per year. Fixed manufacturing overhead Fixed selling and administrative expense 39 21 3 6 302,500 177,800 During the year, the company produced 30,250 units and sold 25,400 units. The selling price of the company's product is $90 per unit Required: 1. Assume that the company uses absorption costing. 2. 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.) Abution Conting llcome Statement Cost of goods sold 0 0 0 $ 0 c. If 2.000 more units were produced during the year, the operating income would: O Increase c. If 2,000 more units were produced during the year, the operating income would O Increase O Remain the same O Decrease 2. Assume that the company uses variable costing. 4. Compute the unit product cost. Unit product cost b. Prepare an income statement for the year. (Do not leave any empty spaces; input a wnerever Variable Costing Income Statement Variable expenses Variable cost of goods sold: 0 0 Variable cost of goods sold 0 0 Fixed expenses 0 0 c. If 2,000 more units were produced during the year, the operating income would: O Increase O Remain the same Decrease 3. Compute the Break-Even point for the company in units to be sold and sales in dollars