Tami Tyler opened Tami's Creations, Inc., a comp year. Getting the company through its first quarter of operations placed a considerable strain on small manufacturing at the beginning o the Ms. Tyler's personal finances. The following income statement for the first quarter was prepared by a friend who has just completed a course in managerial accounting at State University Tami's Creations, Inc Income Statement For the Quarter Ended March 31 Sales (24,000 units) 871.200 Variable expenses: Variable cost of goods sold 290.400 Variable selling and administrative expenses 90,800 481,200 Contribution margin 390.000 Fixed expenses: Fixed manufacturing overhead 226,800 Fixed selling and administrative expenses 217,000 443,800 Net operating loss 53,800 Ms. Tyler is discouraged over the loss shown for the quarter, particularly because she had planned to use the statement as support for a bank loan. Another friend, a CPA, insists that the company should be using absorption costing rather than variable costing and argues that if absorption costing had been used the company probably would have reported at least some profit for the quarter. At this point, Ms. Tyler is manufacturing only one product a swimsuit. Production and cost data relating to the swimsuit for the first quarter follow Units produced 27,000 Units sold 24,000 Variable costs per unit Direct materials 7.40 Direct labor Variable manufacturing overhead 1.60 Variable selling and administrative 7.95 Required: 1. Complete the following a. Compute the unit product cost under absorption costing. (Round your intermediate and final answers to 2 decimal places.) nit product cos