Exercise 12-10 Allocating to solve a timing problem LO 12-3 Production workers for Vernon Manufacturing Company provided 4,500 hours of labor in January and 2,500 hours in February. The company, whose operation is labor intensive, expects to use 48,500 hours of labor during the year. Vernon paid a $101,850 annual premium on July 1 of the prior year for an insurance policy that covers the manufacturing facility for the following 12 months Required Based on this information, how much of the insurance cost should be allocated to the products made in January and to those made in February? (Do not round intermediate calculations.) Month Allocated Cost January February