Q: file size of music memos?

What is the average file size of a music memo?  I've searched everywhere for this... I assume it is much bigger than the voice memos since it includes so many features and you can add extra instruments.  But I guess what I wanna know is - If I record the same song in music memos and voice memos, what difference will I see in terms of file size?

Andddd follow up question ~ I think music memos saves to icloud.  But does it save to my device as well? and take up space?

Thanks!!!