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Inventory Valuation Under Absorption and Variable Costing The following information pertains to Synergy Inc. for last year: Beginning inventory in units Units produced Units sold Costs per unit 20,000 17,200 Direct materials Direct labour Variable overhead Fixed overhead* Variable selling expenses $8.00 $4.00 $1.50 $4.15 $3.00 $24,300 Fixed selling and administrative costs * Fixed overhead totals $83,000 per year Required 1. Calculate the cost of one unit of product under absorption costing. Round your answer to the nearest cent. per unit 2. Calculate the cost of one unit of product under variable costing. Round your answer to the nearest cent. per unit 3. How many units are in ending inventory? units 4. Calculate the cost of ending inventory under absorption costing 5. Calculate the cost of ending inventory under variable costing