Ida Sidha Karya Company is a family$-$owned company located in the village of Gianyar 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 to a Canadian importer for $$700.$ 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.

Unit product cost

Assume that the company uses variable costing. Compute the unit product cost for one gamelan.

Unit product cost