Check my work Exercise 7-1 (Algo) Variable and Absorption Costing Unit Product Costs [LO7-1] Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $960 Selected data for the company's operations last year follow Units in beginning inventory o Units produced 24,000 Units sold 21,000 Units in ending Inventory 3,000 Variable costs per unit Direct materials $ 250 Direct labor $ 490 Variable manufacturing overhead 5.54 Variable selling and administrative $ 21 Fixed costs Fixed manufacturing overhead 560,000 Fixed selling and administrative $ 380,000 Required L Assume that the company uses absorption costing Compute the unit product cost for one gamelan (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing Compute the unit product cost for one gamelan 1 Absorption casting unit product cost 2 Variable costing unit product cost