The following costs of Gala Company are available for the year ended December 31, 2022. The company has no beginning inventory. In 2022, the company produced 70,000 units but sold only 60,000 units. The unit selling price was $110 per unit. Costs and expenses were as follows: Variable costs per unit Direct materials $45 Direct labour 25 Variable manufacturing overhead 5 Variable selling and administrative expenses Annual fixed costs and expenses Fixed manufacturing overhead based on a budgeted volume of 80,000 units Selling and administrative expenses $240,000 $120,000 The company expenses production-volume variance to cost of goods sold in the accounting period in which it occurs. Instructions a) Calculate the manufacturing cost of one unit of product using normal-absorption costing. (3 Marks) b) Prepare a 2022 income statement for Gala Company using normal costing. (6 Marks)