Lily's Pastries produces cupcakes, which sell for $5.20 each. During the current month, Lily produced 3,000 cupcakes, but only sold 2, 400 cupcakes. The variable cost per cupcake was $3.00 and the sales commission per cupcake was $0.80. Total fixed manufacturing costs were$1, 900 and total fixed marketing and administrative costs were $1, 400. What is the product cost per cupcake under absorption costing? $5.20 $5.83 $3.00 $3.63