Penna Corporation produces a single product and has the following cost structure:

Number of units produced each year	1,000
Variable costs per unit:
Direct materials	$40
Direct labor	$16
Variable manufacturing overhead	$1
Variable selling and administrative expenses	$1
Fixed costs per year:
Fixed manufacturing overhead	$12,000
Fixed selling and administrative expenses	$34,000

Required: a. Compute the unit product cost under absorption costing. Show your work! (5 points) b. Compute the unit product cost under variable costing. Show your work! (5 points)