strategic cost analysis acc

Premium Products Corporation manufactures a polyurethane sealant called Fix-it, for car windshields. Relevant data for Fix-it in January 2021, the first month of production, are as follows. The selling price is $20 per unit. Units Produced 30,000 ; units sold 20,000 ; beginning inventory zero. Variable unit costs: Manufacturing $9 (direct materials $5, direct labor $3, and variable manufacturing overhead \$1). Variable selling and administrative expenses per unit are $2. Fixed costs: Manufacturing overhead $120,000. Selling and administrative overhead $15,000 Required: 1. Compute the company's per unit production cost under absorption and variable costing approaches. Show computation in the textbox: (2+2=4 marks ) 2. Compute the total contribution margin for the units sold under the variable costing approach ( 2 marks)