Use the Data below to calculate total product costs under an absorption costing model and a variable costing model.
Units in beginning inventory		-
Units produced		350
Units sold		300
Units in ending inventory		50
Variable costs per unit:
Direct materials		150
Direct labor		350
Variable manufacturing overhead		45
Variable selling and administrative		15
Fixed costs:
Fixed manufacturing overhead		80,000
Fixed selling and administrative		35,000
Absorption Costing			2	Variable Costing
Costs:
Absorption product costs	-			Variable product cost