Tami Tyler opened Tami's Creations, Inc., a small manufacturing company at the beginning of the year Getting the company through its first quarter of operations placed a considerable strain on 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. ncome Statement For the Quarter Ended March 31 Sales (22,000 units) S 798,600 Variable expenses 266.200 Variable costof goods sold Variable selling and administrative expenses 72,700 438,900 Contribution margin 359.700 Fixed expenses Fixed manufacturing overhead 212,500 Fixed selling and administrative expenses 220.000 432,500 Net operating loss 72.800 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 a CPA insists that the company should be using friend, 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 25,000 Units sold 22.000 Variable costs per unit Direct materials 7.50 Direct labor Variable manufacturing overhead 1.50 Variable selling and administrative 7.85 Required: 1. Complete the following a. Compute the unit product cost under absorption costing. (Round your intermediate and final answers to 2 decimal places.) Unit product cost