The Dean Corporation produces and sells a single product. The following data refer to the year just completed Beginning inventory Units produced Units sold 31,600 29,600 Selling price per unit Selling and administrative expenses: Variable per unit Fixed (total) Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit $ Fixed manufacturing overhead (total) $ 414 21 621,600 $ 216 50 37 $ 379,200 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