The Dean Corporation produces and sells a single product. The following data refer to the year just completed Beginning inventory Units produced 30.700 Units sold 27,800 Selling price per unit 408 i Selling and administrative expenses Variable per unit 500,400 Fixed (total) Manufacturing costs: Direct materials cost per unit Direct cost per unit 240 55 Variable manufacturing overhead cost per unit 35 429,800 Fixed manufacturing overhead (total) Assume that direct labor is a variable cost. Required: a. Compute the cost of a single unit of product under both the absorption costing and variable costing approaches Cost per unit Absorption costing Variable costing