[The following information applies to the questions displayed below.] Trio Company reports the following information for its first year of operations.

Direct materials	$ 14	per unit
Direct labor	$ 18	per unit
Variable overhead	$ 5	per unit
Fixed overhead	$ 347,650	per year
Units produced	20,450	units
Units sold	17,500	units
Ending finished goods inventory	2,950	units

Part 1

1. Compute the product cost per unit using absorption costing. 2. Determine the cost of ending finished goods inventory using absorption costing. 3. Determine the cost of goods sold using absorption costing.

Part 2

Assume instead that Trio Company uses variable costing. 1. Compute the product cost per unit using variable costing. 2. Determine the cost of ending finished goods inventory using variable costing. 3. Determine the cost of goods sold using variable costing.