38. XYZ Company reported 10,000 units of Product X valued at $1,500,000 in its ending cost of goods sold account. Accounting records indicated that XYZ had 4,000 hours of direct labor valued at $100,000 and 60,000 machine hours in its cost of goods sold account. Earlier in the year, ABC established a predetermined overhead rate equal to $10 per machine hour. What is the total dollar amount of material cost that comprises the $1,500,000 of XYZ's cost of goods sold account