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 $893. Selected data for the company's operations last year follow: 12,000 10,000 2,000 Units in beginning inventory Units produced Units sold Unite in ending inventory Variable conta per units Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Tind cost Tixed manufacturing overhead Tixed selling and administrative $ 190 480 50 24 $750,000 $700,000 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. Abortion conting unit product cout 2 Variable conting unit product cont