1. A company produces a single product and has the following cost structure for the current month:
   • Direct materials: $50,000
   • Direct labor: $30,000
   • Variable overhead: $20,000
   • Fixed overhead: $40,000
   • Selling and administrative expenses: $15,000 If the company produced and sold 5,000 units of the product during the month, calculate the total manufacturing cost per unit using absorption costing and variable costing methods. Discuss the implications of each costing method on inventory valuation and profit determination.