Putnam Corporation manufactures a single product. The standard cost per unit of product is shown below.

	Direct materials-1 pound plastic at $7.00 per pound	$ 7.00
	Direct labor-1.5 hours at $12.00 per hour	18.00
	Variable manufacturing overhead	11.25
	Fixed manufacturing overhead	3.75
	Total standard cost per unit	$40.00

The predetermined manufacturing overhead rate is $10 per direct labor hour ($15.00