PROBLEM 1 JCU Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations Variable costs per unit: Manufacturing Direct materials $6 Direct labor $10 Variable manufacturing overhead $3 Variable selling and administrative $5 Fixed costs per year: Fixed manufacturing overhead $ 300,000 Fixed selling and administrative $ 200,000 During the year, the company produced 20,000 units and sold 15.000 units. The selling price of the company's product is $40 per unit. Required: 1. Assuming the Company uses absorption costing, calculate the unit product cost. 2. Assuming the Company uses variable costing, calculate the unit product cost