Harmon Household Products, Inc., manufactures a number of consumer items for general household use. One of these products, a chopping board, requires an expensive hardwood. During a recent month, the company manufactured 3,800 chopping boards using 2,280 board feet of hardwood. The hardwood cost the company $15,048.
The company's standards for one chopping board are 0.52 board feet of hardwood, at a cost of $7.00 per board foot.
Required: According to the standards, what cost for wood should have been incurred to make 3,800 chopping blocks?