A company has identified the following overhead costs and cost drivers for the coming year:
- Overhead Item Cost Driver Budgeted Cost Budgeted Activity Level
- Machine setup Number of setups $20,000 200
- Inspection Number of inspections $130,0006,500
- Material handling Number of materials moves $80,000 8,000
- Engineering Engineering hours $50,0001,000
Budgeted direct labor cost was $100,000, and budgeted direct material cost was $280,000. The following information was collected on three jobs that were completed during the year:
- Job 101 Job 102 Job 103
- Direct materials $5,000 $12,000 $8,000
- Direct labor $2,000 $2,000 $4,000
- Units completed 100 50 200
- Number of setups 1 2 4
- Number of inspections 20 10 30
- Number of material moves30 10 50
- Engineering hours 10 5010
If the company uses activity-based costing (ABC), how much overhead cost should be assigned to Job 101?