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UNIT PRODUCT COST Assumptions Problem 3 Selling price Units produced Units sold Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling expenses Fixed selling expenses Variable administrative expenses Fixed administrative expenses $300 10,000 8,000 300,000 $600,000 $300,000 $400,000 $100,000 $200,000 200,000 $300,000 Required: Calculate the unit product cost and income statements under both absorption and variable costing. Explain the difference in income between the methods