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Chuck Wagon Grills, Inc., makes a single producta handmade specialty barbecue grill that it sells...

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Accounting

Chuck Wagon Grills, Inc., makes a single producta handmade specialty barbecue grill that it sells for $210. Data for last years operations follow:

Units in beginning inventory 0
Units produced 10,300
Units sold 9,500
Units in ending inventory 800
Variable costs per unit:
Direct materials $ 64
Direct labor 39
Variable manufacturing overhead 11
Variable selling and administrative 19
Total variable cost per unit $ 133
Fixed costs:
Fixed manufacturing overhead $ 319,300
Fixed selling and administrative 505,000
Total fixed costs $ 824,300

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.

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