Cost of Goods Manufactured, using Variable Costing and Absorption Costing On December 31, the end of the first year of operations, Frankenreiter Inc., manufactured 2,900 units and sold 2,500 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 $650,000 Variable cost of goods sold: Variable cost of goods manufactured $362,500 Inventory, December 31 (50,000) Total variable cost of goods sold 312,500 Manufacturing margin $337,500 Total variable selling and administrative expenses 77,500 Contribution margin $260,000 Fixed costs: Fixed manufacturing costs $165,300 Fixed selling and administrative expenses 52,500 Total fixed costs 217,800 Income from operations $42,200 Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept. Variable costing $fill in the blank 1 Absorption costing $fill in the blank 2