P1-2B (Only problems ending in A are in your book; B prob are only below) Elliott Company, a manufacturer of tennis rackets, started production in November 2017. For the preceding 5 years, Elliott had been a retailer of sports equipment. After a thorough survey of tennis racket markets, Elliott decided to turn its retail store into a tennis racket factory. Raw materials cost for a tennis racket will total $23 per racket. Workers on the production lines are paid on average $15 per hour. A racket usually takes 2 hours to complete. In addition, Rent on the equipment used to produce rackets amounts to $1,300 per month. Indirect materials cost $3 per racket. A supervisor was hired to oversee production; her monthly salary is $3,500. Plus, Factory Janitorial costs are $1,400 monthly. Advertising costs for the rackets will be $8,000 per month. The factory building depreciation expense is $8,400 per year. Property taxes on the factory building will be $9,600 per year. Instructions: Using the "form" below, compute the cost to produce one racket