Inventory Valuation under Absorption and Variable Costing

San Remo Company produced $80,000$ units last year. The company sold $79,000$ units and there was no beginning inventory. The company chose practical activity$$at $80,000$ units$$to compute its predetermined overhead rate. Manufacturing costs are as follows:

Direct materials $$667,520$

Direct labour $116,480$

Variable overhead $98,560$

Fixed overhead $256,256$

Required:

$1.$ Calculate the cost of one unit of product under absorption costing. Round your interim calculations and final answer to the nearest cent. Use rounded answer in subsequent requirements.

$fill in the blank $1$

$14$

$2.$ Calculate the cost of one unit of product under variable costing. Round your interim calculations and final answer to the nearest cent. Use rounded answer in subsequent requirements.

$fill in the blank $2$

$11$

$3.$ Calculate the cost of ending inventory under absorption costing.

$fill in the blank $3$

XXXXX

$4.$ Calculate the cost of ending inventory under variable costing.

$fill in the blank $4$

xxxxxxx