The Wisconsin Company manufactures and sells a single product. The following costs were incurred during the company's first year of operation:
Variable cost per unit:
- Manufacturing:
- Direct materials $22
- Direct Labor $ 5
- Variable manufacturing overhead $ 4
- Variable selling and administrative $ 6
- Fixed costs per year:
- Fixed manufacturing overhead $ 200,000
- Fixed selling and administrative expenses $100,000
During the year, the company produced 25,000 units and sold 20,000 units. The selling price of the company's product is $50 per unit.Compute the company's unit product cost under the variable costing method.