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29 Bates Manufacturing uses a job order costing system, and overhead is applied on the basis of direct labor hours. At the beginning of the period, the company estimated that overhead would be $65.000 and 10.000 direct labor hours would be worked. Two projects were started and completed in the current accounting period. The following transactions were completed during the period ( Used $10,000 of direct material on Project I and $6.900 of direct material on Project II. Labor costs for the two jobs amounted to the following Project L $24.500 2.050 hours Project I. 544.500 16.300 hours) Project was sold during the penod for $121.000 The companys grous margin for the period was: (Do not round your intermediate calculation Multiple Choice 0 O $22.90 0 0 O noso 0 $70.950