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 Direct materials Direct labor Variable overhead Fixed overhead Required: 1. Calculate the cost of one unit of product under variable costing. Round your interim calculations and final answer to the nearest cent. $143,910 108,810 76,050 59,670 X per unit 2. Calculate the cost of ending inventory under variable costing