Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $$869.$ Selected data for the company$$s operations last year follow:

Units in beginning inventory $0$

Units produced $10,000$

Units sold $7,000$

Units in ending inventory $3,000$

Variable costs per unit:

Direct materials $ $110$

Direct labor $ $480$

Variable manufacturing overhead $ $64$

Variable selling and administrative $ $21$

Fixed costs:

Fixed manufacturing overhead $ $850,000$

Fixed selling and administrative $ $700,000$

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

$$869.$ 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. $($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.

Absorption costing unit product cost

Variable costing unit product cost