Canterra Co. incurs $160,000 of overhead costs each year in its three main departments, setup ($10,000), machining ($110,000), and packing ($40,000). The setup department performs 40 setups per year, the machining department works 5,000 hours per year, and the packing department packs 500 orders per year. Information about Canterras 2 products is as follows:

Product One	Product Two
Number of setups	20	20
Machining hours	1,000	4,000
Orders packed	150	350

If machining hours are used as a base, how much overhead is assigned to Product One each year?

$32,000

$80,000

$55,000

$48,000