Question: Use the following data to answer the next two (2) questions: Product 1 Product 2 Product 3 Direct Material Cost $25,000 $30,000 $35,000 Direct Labor

Use the following data to answer the next two (2) questions:

	Product 1	Product 2	Product 3
Direct Material Cost	$25,000	$30,000	$35,000
Direct Labor Cost	$30,000	$40,000	$50,000
Direct Labor Hours	1,200 hours	1,800 hours	2,000 hours

Factory overhead is estimated to be $40,000 and is applied based on direct labor dollars. This overhead cost is not traceable to any particular product.

Factory overhead allocated to Product 2 is

$13,333.

$24,000.
$20,000.
$14,400.

The total cost of Product 1 is

$55,000.

$62,500.
$65,000.
$83,333.

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