Class Assignment 5 1) Castaway Company reports the following first year production cost information: Units produced Selling price $150 Units sold Direct labor 53,000 units 51,000 units Direct materials Variable overhead Fixed overhead $8 per unit $4 per unit $41 per unit C $3,339,000 in total a. Compute production cost per unit under variable costing. b. Compute production cost per unit under absorption costing. c. Prepare an Income Statement using variable costing d. Prepare an Income Statement using absorption costing Show all work