Cost of Goods Manufactured, using Variable Costing and Absorption Costing On December 31, the end of the first year of operations, Frankenreiter Inc., manufactured 6,300 units and sold 5,400 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, 2011 Sales $1,404,000 Variable cost of goods sold: Variable cost of goods manufactured $787,500 Inventory, December 31 (112,500) Total variable cost of goods sold 675,000 Manufacturing margin $729,000 Total variable selling and administrative expenses 167,400 Contribution margin $561,600 Fixed costs: Fixed manufacturing costs $359,100 Fixed selling and administrative expenses 113,400 Total fixed costs 472,500 Income from operations $89,100 Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept. Variable costing Absorption costing