For this exercise, let's return to an example given in the chapter, Leo, Inc. To refresh your memory, Leo, Inc. produces lawn chairs. Leo, Inc. has the following cost data. Illustration E.5 Leo, Inc. Cost Data Direct materials 10 square feet @ $10/ft. = $100 Direct labor 3 hours @ $30/hr. = $90 Variable manufacturing overhead = $60 Fixed manufacturing overhead $120,000 Anticipated production level 1,000 units Variable selling expense $30/unit sold Fixed selling expense $40,000 Administrative expense $50,000 Selling price $500 per lawn chair Units sold 1,200 Units in beginning inventory 200 Units in ending inventory 0 Under absorption costing, what is the cost per unit? Submit