Masley Corporation has provided the following data for its two most recent years of operation: 
In Year 1, 10,000 units were produced and in Year 2, 7,000 units were produced.
Required:
a.Assume the company uses absorption costing.Compute the unit product cost in each year.
B.Assume the company uses variable costing.Compute the unit product cost in each year.
Definitions:
Demand Curve
A visual plot that illustrates the connection between the cost of a product and the amount of it buyers are prepared and capable of buying at different price levels.
Supply Curve
A visual chart that illustrates how the price of a product correlates with the amount of the product that sellers are prepared to offer.
Actual Price
The price at which goods are sold in the market, not necessarily equal to the listed or expected price.
Market Failures
Situations where the allocation of goods and services by a free market is not efficient, often justifying government intervention.
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