ABT makes concrete blocks. Each unit (block) requires 25 pounds of raw materials costing $0.01 per pound. Therefore, each unit has budgeted direct materials cost of $0.25. The budgeted direct labor hours per unit (0.015 hour) and wage rate ($20 per direct labor hour). The budgeted variable overhead per unit ($100.015 direct labor hour) and total fixed overhead for the year ($1,600,000). There were 16,000,000 units expected to be produced during the year, and there were 100,000 units budgeted for ending finished goods inventory. The total cost of the ending inventory is