19 00:45:53 Waterloo Storage Products makes a four-drawer plastic storage cabinet on casters meant for use in garages and workshops. Each cabinet sells for $45. Data for last year's operations follow: 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 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs Unit product cost $ 26 Sales Variable expenses: Required: 1. Assume that the company uses variable costing. Compute the unit product cost for one storage cabinet. Variable Costing Income Statement Variable cost of goods sold: Variable selling and administrative Add: Variable manufacturing costs Selling and administrative expenses Add: Ending inventory $ Ending inventory Contribution margin Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative Operating profit $ 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.) $ 0 22,600 20,300 2,300 $ 81,000 116,000 $197,000 10 12 4 6 32 527,800 121,800 649,600 263,900 385,700 81 $ $ 913,500 385,700 527,800 81 527,719 3. What is the company's break-even point in terms of units sold? (Round your answer to the

Waterioo Storoge Products makes a four-drawer plastic storoge cabinot on costers meant for use in garages and workshops. Each cabinet sells for $45. Date for last year's oporations follow: Required: 1. Assume that the compony uses variable costing. Compute the unit product cost for one starage cabinet. 2. Assimpe that the company unes variabie costing, Prepare a contribution format income statement for the yeac (Do not leave any empty spacess input a o wherever it is requiled.)