Lily's Pastries produces cupcakes, which sell for $5.30 each. During the current month, Lily produced 3,100 cupcakes, but only sold 2,700 cupcakes. The variable cost per cupcake was $3.00 and the sales commission per cupcake was $0.40. Total fixed manufacturing costs were $1,700 and total fixed marketing and administrative costs were $1,400. What is the product cost per cupcake under absorption costing?