Cost of Goods Manufactured, using Variable Costing and Absorption Costing On December 31, the end of the first year of operations, Frankenreiter Inc., manufactured 3,600 units and sold 3,100 units. The following income statement was prepared, based on the variable costing concept: Frankenreiter Inc. Variable Costing Income Statement For the Year Ended December 31, 20Y1 Sales $1,147,000 Variable cost of goods sold: Variable cost of goods manufactured $640,800 Inventory, December 31 (89,000) Total variable cost of goods sold 551,800 Manufacturing margin $595,200 Total variable selling and administrative expenses 136,400 Contribution margin $458,800 Fixed costs: Fixed manufacturing costs $291,600 Fixed selling and administrative expenses 93,000 Total fixed costs 384,600 Income from operations $74,200 Determine the unit cost of goods manufactured, based on a) the variable costing concept and (b) the absorption costing concept. Variable costing Absorption costing