Waterloo Storage Products makes a four-drawer plastic storage cabinet on casters meant for use in garages and workshops. Each cabinet sells for $40. Data for last year's operations follow: Units in beginning inventory Units produced Units sold Units in ending inventory 23,800 20,900 2,900 $ Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative 9 11 3 5 Total variable cost per unit $ 28 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $ 78,000 113,000 Total fixed costs $191,000 Required: 1. Assume that the company uses variable costing. Compute the unit product cost for one storage cabinet. Unit product cost $ 23 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 0 Variable expenses: Variable cost of goods sold: Beginning inventory Add: Variable manufacturing costs Goods available for sale Less: Ending inventory Variable cost of goods sold Variable selling and administrative Contribution margin Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative Operating profit 0 0 0 0 $ 0 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