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Segmented Reporting and Performance Evaluation 159 PRACTICE TEST PROBLEM 1 Barth Industries began operations on January 1, 2004. The company sells a single product for $10 per unit. During 2004, 60,000 units were produced and 50,000 units were sold. There was no work in process inventory at December 31, 2004. Barth uses an actual cost system for product costing and actual costs for 2004 were as follows: Fixed Costs Variable Costs Direct materials $2.00 per unit produced Direct labour -0- Manufacturing overhead.. $1.00 per unit produced $60,000 Selling and administrative expense $0.50 per unit produced $40,000 $0.80 per unit sold -0- Instructions: 1. What is the product cost per unit under each of the following? a. variable costing b. absorption costing