Waterway Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs. $11.25 Variable Costs per Unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $5.18 $8,70 $5.85 Fixed Costs per Year $348,750 Fixed manufacturing overhead Fixed selling and administrative expenses $315,150 Waterway Company sells the fishing lures for $37.50. During 2020, the company sold 82,000 lures and produced 93,000 lures. X Your answer is incorrect. Assuming the company uses variable costing, calculate Waterway's manufacturing cost per unit for 2020. (Round answer to 2 decimal places, eg. 10.50.) Manufacturing cost per unit $ For the Year Ended December 31, 2020 $ 3075000 Sales Variable Cost of Goods Sold > $ 2060660 Variable Selling and Administrative Expenses 479700 2540360 Contribution Margin 534640 Fixed Manufacturing Overhead 348750 Fixed Selling and Administrative Expenses 315150 663900 Net Income (Loss) $ 129260 X Your answer is incorrect. Assuming the company uses absorption costing, calculate Waterway's manufacturing cost per unit for 2020. (Round answer to 2 decimal places, eg. 10.50.) Manufacturing cost per unit A Prepare an absorption costing income statement for 2020. (Enter negative amounts using either preceding the number eg.-45 or parentheses eg. (45)) $ $ II $