Waterloo Storage Products makes a four-drawer plastic storage cabinet on casters meant for use in garages and workshops. Each cabinet sells for $35. Data for last year's operations follow: Units in beginning inventory Units produced Units sold Units in ending inventory 25,000 21,500 3,500 Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Total variable cost per unit Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs 8 1@ 2 4 24 $ $ 75,000 110,000 $185,000 Required: 1. Assume that the company uses variable costing. Compute the unit product cost for one storage cabinet. Unit product cost $ 20 2. Assume that the company uses variable costing. Prepare a contribution format income statement for the year. (Do not leave any empty spaces; input a 0 wherever it is required.) Variable Costing Income Statement $ 752,500 Sales Variable expenses: 2. Assume that the company uses variable costing. Prepare a contribution format income statement for the year. (Do not leave any empty spaces; input a 0 wherever it is required.) $ 752,500 Variable Costing Income Statement Sales Variable expenses: Variable cost of goods sold: $ 172,000 215,000 387,000 Less: Ending inventory 43,000 Variable selling and administrative 344,000 Variable selling and administrative 86,000 Contribution margin Fixed expenses: Fixed manufacturing overhead 75,000 Fixed selling and administrative 110,000 Operating profit 430,000 322,500 185,000 137,500 $ 3. What is the company's break-even point in terms of units sold? (Round your answer to the nearest whole number.) Break-even units sales 16,818 units