Martin Manufacturer Ltd started its operations on 1 January 2021, and the planned production for the year was 50,000 units. This production level was achieved, but only 46,250 units were sold at $90 each. Other relevant data are as follows: $ Direct material used 600,000 Direct labour cost incurred 300,000 Fixed manufacturing overhead (actual and planned) 375,000 Variable manufacturing (actual and planned) 180,000 Fixed selling and administrative expenses 450,000 Variable selling and administrative expenses $1.40 per unit Required: Show all your workings. (i) Calculate the product cost per unit under variable and absorption costing. (2 marks)