During the month of May, VV produced and sold 12,000 units of a product. Manufacturing and Selling costs incurred during May were:

Direct Materials and Direct Labor

P 480,000

Variable factory overhead

P 180,000

Fixed factory overhead

P 24,000

Variable selling costs

P 12,000

1. The product's unit cost under variable costing was?
2. The product's unit cost under absorption costing was?