Waterloo Storage Products makes a four-drawer plastic storage cabinet on casters meant for use in garages and workshops. Each cabinet sells for $36. Data for last year's operations follow:

Waterloo Storage Products makes a fourdrawer plastic storage cabinet on casters meant for use in garages and workshops. Each cabinet sells for $36. Data for last year's operations follow: Units in beginning inventory 0 Units produced 24,000 Units sold 21,000 Units in ending inventory 3,000 Variable costs per unit: Direct materials $ 8 Direct labour 10 Variable manufacturing 2 overhead Variable selling and . . . 4 administrative Total variable cost per unit $ 24 Fixed costs: Fixed manufacturing overhead $ 77,500 Fixed selling and 112.500 administrative Total xed costs $190,000 1. Assume that the company uses variable costing. Compute the unit product cost for one storage cabinet. 2. Assume that the company uses variable costing. Prepare a contribution format income statement for the year. Variable expenses: Variable cost of goods sold: Fixed expenses: 3. What is the company's breakeven point in terms of units sold? {Round your answer to the nearest whole number.)