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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 $205. Data for last years operations follow:

Units in beginning inventory 0
Units produced 9,700
Units sold 9,100
Units in ending inventory 600
Variable costs per unit:
Direct materials $ 62
Direct labor 32
Variable manufacturing overhead 10
Variable selling and administrative 15
Total variable cost per unit $ 119
Fixed costs:
Fixed manufacturing overhead $ 329,800
Fixed selling and administrative 525,000
Total fixed costs $ 854,800

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.

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