The following information pertains to Gabon Inc. for last year:
Beginning inventory in units ...........—
Units produced ................20,000
Units sold ..................17,200
Costs per unit:
Direct materials .................$8.00
Direct labor .................$4.00
Variable overhead ................$1.50
Fixed overhead* ................$4.15
Variable selling expenses ...........$3.00
Fixed selling and administrative costs .....$24,300
* Fixed overhead totals $83,000 per year.

Required:
1. Calculate the cost of one unit of product under absorption costing.
2. Calculate the cost of one unit of product under variable costing.
3. How many units are in ending inventory?
4. Calculate the cost of ending inventory under absorption costing.
5. Calculate the cost of ending inventory under variable costing.