Cost of Goods Manufactured, using Variable Costing and Absorption Costing On December 31, the end of the first year of operations, Frankenreiter Inc., manufactured 4,500 units and sold 3,900 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 $858,000 Variable cost of goods sold: Variable cost of goods manufactured $477,000 (63,600) 413,400 Inventory, December 31 Total variable cost of goods sold Manufacturing margin Total variable selling and administrative expenses Contribution margin $444,600 101,400 $343,200 Fixed costs: Fixed manufacturing costs $216,000 Fixed selling and administrative expenses 70,200 Total fixed costs 286,200 Income from operations $57,000 Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept. Irisblococting Income from operations $57,000 Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept. Variable costing " Absorption costing