Hi, I need help with this exercise. Could you please provide a detail explanation step by step?

RHO Company began operations on January 1 and produces a single product that sells for $10.25 per unit. The standard capacity is 80,000 units per year. Of the 80,000 units that were produced, 70,000 were sold during the year. Manufacturing costs and selling and administrative expenses were as follows:

Fixed costs Variable costs Materials $2.50 per unit Direct labor $1.50 per unit Manufacturing overhead $120,000 $1.00 per unit produced Selling and administrative $80,000 $0.50 per unit sold expenses