Waterloo Storage Products makes a four-drawer plastic storage cabinet on casters meant for use in garages and workshops. Each cabinet sells for $43. Data for last year's operations follow: Units in beginning inventory Units produced Units sold Units in ending inventory 24,600 21,300 3,300 Variable costs per unit Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative $10 12 4 Total variable cost per unit $ 32 Fixed costs Fixed manufacturing overhead Fixed selling and administrative $ 76,000 111,000 Total fixed costs $187,000 Required. 1. Assume that the company uses variable costing. Compute the unit product cost for one storage cabinet Unit product cost