ABC Corporation manufactures two models of a product, a standard and a deluxe model. The following activity and cost information has been compiled: Number of Number of Number of Product Setups Components Direct Labor Hours Standard 3 30 650 Deluxe 7 50 150 Overhead costs $40,000 $120,000 Assume a traditional costing system applies the $160,000 of overhead costs based on direct labor hours. 1. What is the total amount of overhead costs assigned to the standard model