Determining Actual Factory Overhead The books of Petry Products Co. revealed that the following general journal entry had been made at the end of the current accounting period: Factory Overhead 2,000 2,000 Under- and Overapplied Factory Overhead Closed credit balance in factory overhead control account. The total direct materials cost for the period was $40,000. The total direct labor cost, at an average rate of $10 per hour for direct labor, was one and one-half times the direct materials cost. Factory overhead was applied on the basis of $4 per direct labor hour. What was the total actual factory overhead incurred for the period?(Hint: First solve for direct labor cost and then for direct labor hours.)