15 points: Calculate the total absorption cost per toy car and the total variable cost per toy car using the following data for the first month of Turbo Cars:

	January
Direct Materials Cost per toy car	$2.80
Direct Labor Cost per toy car	$4.30
Variable Factory Overhead Cost per toy car	$1.15
Total Fixed Factory Overhead Costs	$40,000
Total Fixed Selling and Administrative Costs	$50,000
Number of toy cars Produced	80,000
Number of toy cars Sold	20,000
Sales Price per toy car	$30

All FORMULAS USED MUST BE STATED IN WORDS OR YOU WILL RECEIVE A 0 ON THE PROBLEM.