Murphy Incorporated, which produces a single product, has provided the following data for its most recent month of operation: Number of units producedVariable costs per unit:Direct materials Direct laborVariable manufacturing overheadVariable selling and administrative expensesFixed costs: Fixed manufacturing overheadFixed selling and administrative expensesThe company had no beginning or ending inventories.Required:a$.$ Compute the unit product cost under absorption costingb$.$ Compute the unit product cost under variable costing$\mathrm{.}7,000$$ $37$$ $43$$ $5$$ $1$$ $84,000$$ $119,000$