Waterloo Storage Products makes a four-drawer plastic storage cabinet on casters meant for use in garages and workshops. Each cabinet sells for $48. Data for last year's operations follow: 24,200 21,100 3,100 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Total variable cost per unit $ 12 14 6 5 $ 37 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $ 77,000 112,000 Total fixed costs $189,000 Required: 1. Assume that the company uses variable costing. Compute the unit product cost for one storage cabinet. Unit product cost $ 32 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.) $ 1,071,200 Variable Costing Income Statement Sales Variable expenses: Variable cost of goods sold: 0 0 0 1,071,200 Fixed expenses 0 $ 1,071,200 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 units