Unit Costs, Inventory Valuation, Variable and Absorption Costing Snyder Company produced 97,700 units during its first year of operations and sold 96,200 at $21.94 per unit. The company chose practical activity-at 97,700 units-to compute its predetermined overhead rate. Manufacturing costs are as follows: Direct materials Direct labor $626,257 90,861 Expected and actual variable overhead 387,869 Expected and actual fixed overhead Required: 537,350 If required, round unit cost answers to the nearest cent. 1. Calculate the unit cost and the cost of finished goods inventory under absorption costing. Unit Cost Cost of finished goods Inventory 2. Calculate the unit cost and the cost of finished goods inventory under variable costing. Unit Cost Cost of finished goods inventory 2. Calculate the unit cost and the cost of finished goods inventory under variable costing. Unit Cost Cost of finished goods inventory 3. What is the dollar amount that would be used to report the cost of finished goods inventory to external parties? Why