Required information The following information applies to the questions displayed below.) Chuck Wagon Grills, Incorporated, makes a single product-a handmade specialty barbecue grill that it sells for $210. Data for last year's operations follow: Units in beginning inventory 0 Units produced 26,000 Units sold 22,000 Units in ending inventory 4.000 Variable costs per unit: Direct materials $ 50 Direct labor 80 Variable manufacturing overhead 20 Variable selling and administrative 10 $ 160 Total variable cost per unit Fixed costs: Fixed manufacturing overhead $ 910,000 330.000 Fixed selling and administrative $ 1,240,000 Total fixed costs Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill. 2. Assume that the company uses absorption costing. Prepare an income statement for last year