DeGaetano Corporation manufactures a product which sells for $1,000. Standard variable production costs are currently $450 per unit. Sales commissions total 20% of each unit sold. Fixed costs total $495,000 for the year.

The company has projected that demand for their product will be limited to 2,000 units per year for the in the upcoming year and foreseeable future. Due to extremely competitive market forces, they cannot charge more than the current $1,000 price. The company wishes to maintain a pre-tax profit of $315,000. Fixed costs are expected to increase by 10%. Per-unit selling expenses are expected to remain unchanged. Using a target-costing approach, what variable production cost per unit must the company attain in order to meet their profit objective? (Round to the nearest penny)