Problem II. Absorption vs. Variable Costing (16 points) Cherry Blossom has collected the following data for March for Product X (there was no beginning inventory): Units produced and sold Sales Price Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs Fixed selling and administrative costs 50 $45 $6.40 per unit $6.80 per unit $2.60 per unit $750 per month $1.50 per unit $440 per month Using absorption costing, calculate the unit product cost. Using variable costing, calculate the unit product cost. What is the contribution margin for Product X