Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $$1,011.$ Selected data for the company$$s operations last year follow:

Units in beginning inventory $0$

Units produced $21,000$

Units sold $18,000$

Units in ending inventory $3,000$

Variable costs per unit:

Direct materials $ $290$

Direct labor $ $490$

Variable manufacturing overhead $ $46$

Variable selling and administrative $ $17$

Fixed costs:

Fixed manufacturing overhead $ $730,000$

Fixed selling and administrative $ $470,000$

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.