EXERCISES 1. Inventoriable unit cost under direct costing. Milner Company uses a standard costing system and manufactures one product whose standard cost is as follows: Direct labor 24 Total factory overhead (the ratio of variable cost to fixed cost is 3 to 1) 20 Variable marketing, general, and administrative expenses. Fixed marketing, general, and administrative expenses. 12 Total unit costS81 Required: The inventoriable unit cost for internal reporting purposes under direct costing, based on the standard costs. (AICPA adapted)