Company ABC manufactures two products, Product X and Product Y. They incur overhead costs of $100,000, which they want to allocate to the products using activity-based costing. The cost drivers for the products are machine hours for Product X and number of setups for Product Y. Given the following information:

• Product X: 1,000 machine hours
• Product Y: 20 setups

Calculate the overhead cost allocated to each product using activity-based costing.