Exercise $4-1($Algo$)$ Variable and Absorption Costing Unit Product Costs $[$L$04-1]$

Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for

$$749.$ Selected data for the company's operations last year follow:

Required:

Assume that the company uses absorption costing. Compute the unit product cost for one gamelan.

Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.

Assume that the company uses variable costing. Compute the unit product cost for one gamelan.