ABC Company reported 5,000 units of Product X valued at $600,000 in its ending finished goods inventory account. Accounting records indicated that ABC used 50,000 pounds of raw materials valued at $50,000 in making its finished goods inventory, 2000 hours of direct labor, and 10,000 hours of machine time. Earlier in the year, ABC established a predetermined overhead rate equal to $10 per machine hour. What is the total dollar amount of labor cost that comprises the $600,000 of ABCs ending finished goods inventory?

a

$550,000

b

$540,000

c

$530,000

d

$450,000

e

$45,000