Manny's Pastries produces cupcakes, which sell for $5.50 each. During the current month Manny produces 2,900 cupcakes, but he only sold 2,200 cupcakes. The variable cost per cupcake was $3.10 and the sales commision per cupcake was 0.60. Total fixed manufacturing costs were $1,900 and total fixed marketing and administrative costs were $1,000. What is the product cost per cupcake under absorption costing? Explain your answer