Determining actual factory overhead LO_6,7 The books of Pinnacle Products Company revealed that the following general journal entry had been made at the end of the current accounting period:

Factory Overhead 2,000 Under- and Overapplied Factory Overhead 2,000 The total direct materials cost for the period was $40,000. The total direct labor cost, at an average rate of $10 per hour for direct labor, was one and one-half times the direct materials cost. Factory overhead was applied on the basis of $4 per direct labor hour. What was the total actual factory overhead incurred for the period? (Hint: First solve for direct labor cost and then for direct labor hours.)