Exercise $7-1($Algo$)$ Variable and Absorption Costing Unit Product Costs $[$L$07-1]$

Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $$754.$ Selected data for the company's operations last year follow:

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:

Fixed manufacturing overhead

Fixed selling and administrative

$022,00020,0002,000$

$$100$

$$450$

$$54$

$$22$

$$890,000$

$$920,000$

Required:

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.$)$

Assume that the company uses variable costing. Compute the unit product cost for one gamelan.

$\backslash$table$[[1.$ Absorption costing unit product cost$],[2.$ Variable costing unit product cost$]]$