Boeing Company undertakes a contract to build a new aircraft model in October 2033. The project costs are as follows:

Cost Component	Amount ($)
Direct Materials	15,000,000
Direct Labor	12,000,000
Factory Overhead	8,000,000

Additional information:

• Overhead is allocated based on machine hours and direct labor hours.
• Machine hours: 30,000 hours, Direct labor hours: 25,000 hours.
• Overhead rates: $200 per machine hour, $150 per direct labor hour.

Required:

• Calculate the total cost for the project.
• Allocate overhead costs based on machine hours and direct labor hours.
• Analyze the impact of different allocation methods on project cost.