Exercise 6-1 (Algo) Variable and Absorption Costing Unit Product Costs (LO6-1) Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $807. Selected data for the company's operations last year follow: 0 11,000 9,000 2,000 36 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs Pixed manufacturing overhead Pixed selling and administrative $ $ $ $ 160 400 48 24 $980,000 $840,000 Required: 1. 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 costing unit product cost 2. Variable costing unit product cost