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A company that produces a single product has provided the following data concerning its most recent month of operations:
Units in beginning inventory-0
Units produced-7,100
Units sold-7,000
Units in ending inventory-100
Variable costs per unit:
Direct materials-$33
Direct labor-$53
Variable manufacturing overhead-$7
Variable selling and administrative-$1
Fixed costs:
Fixed manufacturing overhead-$170,400
Fixed selling and administrative-$7,000
1. What is the unit product cost for the month under variable costing?
2. What is the unit product cost for the month under absorption costing?
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