Unit Costs, Inventory Valuation, Variable and Absorption Costing Snyder Company produced 90,800 units during its first year of operations and sold 86,850 at $22.17 per unit. The company chose practical activity-at 90,800 units-to compute its predetermined overhead rate. Manufacturing costs are as follows: $574,764 Direct materials Direct labor 75,364 Expected and actual variable overhead 381,360 Expected and actual fixed overhead 486,688 Required: If required, round unit cost answers 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 3. What is the dollar amount that would be used to report the cost of finished goods inventory to external parties? Why? Because absorption costing is required for external reporting