Question: For a processor model, Intel Corporation has set the following standard costs: | Direct Materials | 10 units at $5 per unit | | Direct

For a processor model, Intel Corporation has set the following standard costs:

| Direct Materials | 10 units at $5 per unit | | Direct Labor | 2 hours at $20 per hour | | Variable Overhead| $15 per unit | | Fixed Overhead | $1 billion per year |

If 1 million units were produced, calculate the total standard cost and the total actual cost incurred.

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