Required information [The following information applies to the questions displayed below.] A company manufactures one product that is sold for $78 per unit. During the company's first year of operations it produced 60,000 units and sold 57,000 units and incurred the following costs. Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expense 28 12 2 $ 3 $1,260,000 $ 654,000 Required: 1. What is the unit product cost under variable costing? Unit product cost