Kate's Kale Chips produces a healthy snack made primarily of kale. Each bag of the product sells for $5. The company computes the manufacturing overhead rate on a quarterly basis based upon the planned number of units to be produced that quarter. The following data are from the projections of Kate's Kale Chips for the upcoming quarter: Sales Production Variable manufacturing cost per bag Sales and distribution costs per bag Total fixed manufacturing overhead Fixed administrative overhead Projections 23,500 bags 25,5ee bags $ 2.70 $8.50 $ 56,100 $ 21,500 Required: 1. Compute the projected product cost per bag produced under full costing 2. Compute the projected product cost per bag under variable costing (Round your answers to 2 decimal places.) 1. Product cost under full conting 2 Product cost under variable costing per bag per bag