Unit Costs, Inventory Valuation, Variable and Absorption Costing

Snyder Company produced 95,900 units during its first year of operations and sold 93,050 at $21.26 per unit. The company chose practical activityat 95,900 unitsto compute its predetermined overhead rate. Manufacturing costs are as follows:

Direct materials	$619,514
Direct labor	89,187
Expected and actual variable overhead	392,231
Expected and actual fixed overhead	484,295

Required:

If required, round unit cost answers to the nearest cent.

1. Calculate the unit cost and the cost of finished goods inventory under absorption costing.

Unit Cost
Cost of finished goods inventory

2. Calculate the unit cost and the cost of finished goods inventory under variable costing.

Unit Cost
Cost of finished goods inventory

3. What is the dollar amount that would be used to report the cost of finished goods inventory to external parties?