Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $972. Selected data for the company's operations last year follow: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 1. Absorption costing unit product cost 2. Variable costing unit product cost 0 24,000 21,000 3,000 $ $ Required: 1. Assume 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. 2. Assume the company uses variable costing. Compute the unit product cost for one gamelan. $ 280 $ 500 $ 56 $ 16 $ 860,000 $ 550,000 107,500 107,500

Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xyiophone. The gamelans are solc for $972. Selected data for the company's operations last year follow: Required: 1. Assume 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. 2. Assume the company uses variable costing. Compute the unit product cost for one gamelan