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: 0 11,000 8,000 3,000 Unita in beginning inventory Units produced Units sold Unite in ending inventory Variable costs per uniti Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Tixed costs Fixed manufacturing overhead Tixed selling and administrative $ $ $ $ 200 420 64 25 $900,000 $680,000 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 gametan, 1. Absorption costing unit product cost 2 Variable conting unit product cost