Ida Sidha Karya Company is a family$-$owned company located in the village of Gianyar on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold to a Canadian importer for $$500.$ Selected data for the company$$s operations last year follow:

Units in beginning inventory $0$

Units produced $300$

Units sold $270$

Units in ending inventory $30$

Variable costs per unit:

Direct materials $ $230$

Direct labour $ $180$

Variable manufacturing overhead $ $50$

Variable selling and administrative $ $20$

Fixed costs:

Fixed manufacturing overhead $ $195,000$

Fixed selling and administrative $ $49,500$

Required:

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

$2.$ Assume that the company uses variable costing. Compute the unit product cost for one gamelan.