Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $978. Selected data for the companys operations last year follow:

Units in beginning inventory	0
Units produced	18,000
Units sold	15,000
Units in ending inventory	3,000
Variable costs per unit:
Direct materials	$ 280
Direct labor	$ 490
Variable manufacturing overhead	$ 56
Variable selling and administrative	$ 24
Fixed costs:
Fixed manufacturing overhead	$ 750,000
Fixed selling and administrative	$ 930,000

Required:

1. Assume the company uses absorption costing. Compute the unit product cost for one gamelan.

Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.

1. Assume the company uses variable costing. Compute the unit product cost for one gamelan.