Crapatorium Company, which has only one product, has provided the following data concerning its most recent month of operations:

Selling price $130

Units in beginning inventory 0

Units produced 7,400

Units sold 7,200

Units in ending inventory 200

Variable costs per unit:

Direct materials $32

Direct labor $41

Variable manufacturing overhead $6

Variable selling and administrative . $4

Fixed costs:

Fixed manufacturing overhead $173,900

Fixed selling and administrative $97,400

Required (SHOW YOUR WORK!):

(a.) What is the unit product cost for the month under variable costing?

(b.) What is the unit product cost for the month under absorption costing?

(c.) If Net Income under the variable costing approach = $67,100, what would you expect Net Income (or Net loss) to be under the absorption costing approach. DO NOT create an income statement, use the shortcut approach.

Please show your work :)