Exercise 7-1 Variable and Absorption Costing Unit Product Costs (L07-1) Ida Sidha Karya Company is a family-owned company located on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical Instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $846, Selected data for the company's operations last year follow: 0 16,000 13,000 3,000 e Unsta in beginning inventory Units produced Units sold Units in ending inventory Variable conta per uniti Direct materiale Direct Labor Variable manufacturing overhead Variable selling and administrative Tixed costs Fixed manufacturiny overhead Fixed selling and administrative $ $ $ 180 450 55 10 int 810,000 5680,000 ences Required: 1. Assume that the company uses absorption costing, Compute the unit product cost for one gamelan (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan. 1. Absorption costing unit product cost 2. Variable costing unit productos $ 5 746 688 Exercise 7-1 Variable and Absorption Costing Unit Product Costs (L07-1) Ida Sidha Karya Company is a family-owned company located on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical Instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $846, Selected data for the company's operations last year follow: 0 16,000 13,000 3,000 e Unsta in beginning inventory Units produced Units sold Units in ending inventory Variable conta per uniti Direct materiale Direct Labor Variable manufacturing overhead Variable selling and administrative Tixed costs Fixed manufacturiny overhead Fixed selling and administrative $ $ $ 180 450 55 10 int 810,000 5680,000 ences Required: 1. Assume that the company uses absorption costing, Compute the unit product cost for one gamelan (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan. 1. Absorption costing unit product cost 2. Variable costing unit productos $ 5 746 688