Chuck Wagon makes a single product, a handmade grill, for $200. Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill. Assume that the company uses absorption costing. Prepare an income statement for last year.

Chuck Wagon Grilis, Inc., makes a single producta handmade specialty barbecue grill that it sells for $200. Data for last year's operations follow: Units in beginning inventory 6 Units produced 9,966 Units sold 9,666 Units in ending inventory 966 Variable costs per unit: Direct materials $ 66 Direct labor 32 Variable manufacturing overhead 11 Variable selling and administrative 21 Total variable cost per unit $ 124 Fixed costs: Fixed manufacturing overhead $ 325,766 Fixed selling and administrative 565,666 Total fixed costs $ 831,766 ' Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill. 2. Assume that the company uses absorption costing. Prepare an income statement for last year