Posted by **Anonymous** on Saturday, September 29, 2012 at 9:14pm.

Shastri Bicycle of Bombay, India, produces an inexpensive, yet rugged, bicycle for use on the city’s crowded streets that it sells for 717 rupees. (Indian currency is denominated in rupees, denoted by Picture.) Selected data for the company’s operations last year follow:

Units in beginning inventory 0

Units produced 21,000

Units sold 19,000

Units in ending inventory 2,000

Variable costs per unit:

Direct materials Picture 140

Direct labor Picture 370

Variable manufacturing overhead Picture 47

Variable selling and administrative Picture 23

Fixed costs:

Fixed manufacturing overhead Picture 850,000

Fixed selling and administrative Picture 730,000

Required:

1.

Assume that the company uses absorption costing. Compute the unit product cost for one bicycle. (Round your intermediate and final answers to the nearest whole number. Omit the "Picture" sign in your response.)

Unit product cost Picture

2.

Assume that the company uses variable costing. Compute the unit product cost for one bicycle. (Omit the "Picture" sign in your response.)

Unit product cost Picture

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