Ida Company produces a handcrafted musical instrument called a gamelan that

Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $770. Selected data for the company’s operations last year follow:

Units in beginning inventory 0
Units produced 24,000
Units sold 21,000
Units in ending inventory 3,000
Variable costs per unit:
Direct materials $ 160
Direct labor $ 430
Variable manufacturing overhead $ 47
Variable selling and administrative $ 23
Fixed costs:
Fixed manufacturing overhead $ 800,000
Fixed selling and administrative $ 710,000
Required:
Assume the company uses absorption costing. Compute the unit product cost for one gamelan.
Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.

Assume the company uses variable costing. Compute the unit product cost for one gamelan.

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