ABC ltd is a manufacturing business. It has produced 5000 units of product X in 2018 out of which 4000 units were sold. Following information is provided for the year ended 31 Dec 2018.

Opening Inventory 1000 units Closing Inventory 2000 units Direct Material $120 Direct Labor $140 Fixed Manufacturing Overhead Expenses per month $600,000 Variable Manufacturing Overhead Expenses per unit $50 Fixed Selling & Administrative Expenses per month $400,000 Variable Selling & Administrative Expenses per unit $20

Required:

Calculate cost per unit of product X under Absorption Costing & Marginal Costing