At the end of the first year of operations, $18,000$ units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows:

Direct materials

$$25$

Direct labor

$20$

Fixed factory overhead

$30$

Variable factory overhead

$5$

Determine the cost of the finished goods inventory reported on the balance sheet under $($a$)$ the absorption costing concept and $($b$)$ the variable costing concept. Absorption costing :

Variable costing $