1. XYZ Manufacturing Co. produces three products: Product Alpha, Product Beta, and Product Gamma. For the month of January, direct materials used were $50,000, $40,000, and $60,000 respectively. Direct labor costs incurred were $30,000, $20,000, and $25,000 respectively. Factory overhead costs allocated were $20,000, $15,000, and $25,000 respectively. Calculate the total cost of production for each product using the absorption costing method. Additionally, discuss the implications of using absorption costing versus variable costing for decision-making purposes within the company.