Cost of Goods Manufactured, using Variable Costing and Absorption Costing On December 31, the end of the first year of operations, Frankenreiter Inc., manufactured 5,700 units and sold 4,900 units. The following income statement was prepared, based on the variable costing concept: Frankenreiter Inc. Variable Costing Income Statement For the Year Ended December 31, 20Y1 Sales $1,029,000 Variable cost of goods sold: Variable cost of goods manufactured $575,700 Inventory, December 31 (80,800) Total variable cost of goods sold 494,900 Manufacturing margin $534,100 Total variable selling and administrative expenses 122,500 Contribution margin $411,600 Fixed costs: Fixed manufacturing costs $262,200 Fixed selling and administrative expenses B3,300 Total fixed costs 345,500 Income from operations $66,100 Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept Variable costing Absorption costing