The production of a new product required Zion Manufacturing Co. to lease additional plant facilities. Based on studies, the following data have been made available: Estimated annual sales-26,000 units Estimated costs: Amount Per Unit Materials $130,000 $5.00 Direct labor.. 18,200 .70 Factory overhead 28,600 1.10 Administrative expense.... 33,800 1.30 Total.......... $210,600 $8.10 Selling expenses are expected to be 5% of sales, and net income is to amount to $2.00 per unit. Required: 1. Calculate the selling price per unit. (Hint: Let "X" equal the selling price and express selling expense as a percentage of "X.") 2. Prepare an absorption costing income statement for the year ended December 31, 2016. 3. Calculate the break-even point expressed in dollars and in units, assuming that administrative expense and factory over- head are all fixed but other costs are fully variable