EXERCISE 5-1 Variable and Absorption Costing Unit Product Costs LO1] Ida Sidha Karya Company is a family-owned company located in the village of Gianyar on the island of Bali in Indonessia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $850. Selected data for the company's operations last year follow: Units in beginning inventory Units produced. 250 225 Units sold Units in ending inventory Variable costs per unit: Direct materials. 25 $100 $320 $40 $20 Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: $60,000 $20,000 Fixed anufacturing overhead Fixed selling and administrative Required Assume that the company uses absorption costing. Compute the unit product cost for one 1. Assume that the company uses variable costing. Compute the unit product cost for one 2. gamelan. gamelan