Waterloo Storage Products makes a four-drawer plastic storage cabinet on casters meant for use in garages and workshops. Each cabinet sells for $38. Data for last year's operations follow: Units in beginning inventory Units produced Units sold Units in ending inventory 21,000 19,500 1,500 Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative 10 4 $ 24 Total variable cost per unit Fixed costs Fixed manufacturing overheacd Fixed selling and administrative $ 85,000 120,000 Total fixed costs $205,000 Required. 1. Assume that the company uses variable costing. Compute the unit product cost for one storage cabinet Unit product cost