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1. Harvey Spectre Corporation produces a single product and the following information is available: Selling price per unit $188 0 Units in beginning inventory in Year 1 Total units produced in Year 1 Total units sold in Year 1 Units produced in Year 2 Units sold in Year 2 4,300 3,900 4,200 4,200 Yearly Fixed costs (Constant for Year 1 and Year 2): Manufacturing Overhead Costs Selling & Admin $185,000 $45,000 Variable Costs per unit (Constant for Year 1 and Year 2): DM DL MOH Selling & Admin $32 $11.20 $3.75 $9 Page 1 of 5 Required: a. Calculate the product cost per unit for Year 2, under the Variable Costing System. 2 Marks b. Calculate the product cost per unit for Year 2, under the Absorption Costing System. 2 Marks c. Prepare the Contribution Margin format Income Statement for Year 2 (using the Variable Costing System). 8 Marks