Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $$1,034.$ Selected data for the company$$s operations last year follow:

Units in beginning inventory $0$

Units produced $12,000$

Units sold $8,000$

Units in ending inventory $4,000$

Variable costs per unit:

Direct materials $ $280$

Direct labor $ $500$

Variable manufacturing overhead $ $54$

Variable selling and administrative $ $23$

Fixed costs:

Fixed manufacturing overhead $ $960,000$

Fixed selling and administrative $ $770,000$

Required:

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.

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