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Q3 UniCo manufactures and sells a single product. Cost data for the product follow Q3...

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Q3 UniCo manufactures and sells a single product. Cost data for the product follow Q3 sub Product Cost Data Variable costs per unit Direct materials $10.00 Direct labour $18.00 Variable factory overhead $8.00 Variable selling and admin expense $6.00 Total variable costs per unit $42.00 Fixed costs per month: Fixed manufacturing overhead $220,000 Fixed selling and admin expense 338,000 Total fixed cost per month $558,000 The product sells for $70 per unit. May had no beginning finished goods inventory. Production and sales data for May, June as follows: Month Beginning Inventory Units Produced Units Sold Ending inventory May 22,000 21,000 1,000 June 1,000 25,000 25,500 500 Required: 1. Determine the unit product cost under absorption costing and variable costing for May and June. (6 marks) Absorption Costing Variable Costing May June May June Unit product cost Unit product cost Supporting calculations Prepare, in good form, Absorption and Variable costing operating income statements for Solo Inc. for June only a) Absorption Costing. (4 marks) UniCo Inc. Income Statement

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