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please show formulas used and explain please 1. Using the following table, calculate the unit product cost under variable costing: Number of units produced in

please show formulas used and explain please

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1. Using the following table, calculate the unit product cost under variable costing: Number of units produced in 2015 2,500 Number of units sold in 2015 2,000 Selling price per unit $1,000 Expenses Direct Materials per unit $500 Direct Labor per unit $100 Variable Manufacturing Overhead per unit $50 Fixed Manufacturing Overhead per year $100,000 Variable Selling and Administrative Expenses per $10 unit Fixed Selling and Administrative Expenses per year $50,000 2. Using the following table, calculate the unit product cost under absorption costing: Number of units produced in 2015 2,500 Number of units sold in 2015 2.000 Selling price per unit $1,000 Expenses Direct Materials per unit $500 Direct Labor per unit $100 Variable Manufacturing Overhead per unit $50 Fixed Manufacturing Overhead per year $100,000 Variable Selling and Administrative Expenses per unit Fixed Selling and Administrative Expenses per year $50,000 $10

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