Inventory Valuation under Variable Costing Lane Company produced 50,000 units during its first year of operations and sold 47,300 at $12 per unit. The company chose practical activity-at 50,000 units-to compute its predetermined overhead rate. Manufacturing costs are as follows: $123,000 Direct materials Direct labor 93,000 65,000 Variable overhead Fixed overhead 51,000 Required: 1. Calculate the cost of one unit of product under variable costing. Round your answer to the nearest cent. 4.4 X 2. Calculate the cost of ending inventory under variable costing. 32,400 X