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Exercise 7-1 Variable and Absorption Costing Unit Product Costs [LO7-1]

Ida Sidha Karya Company is a family-owned company located on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $868. Selected data for the company’s operations last year follow:

Screenshot 2021-03-05 at 11.26.51 PM.png

 

Required:

1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your intermediate calculations and final answer to the nearest whole dollar amount.)

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

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