Randy Company produces a single product. The selling price per unit is $100. Production costs include the following:

Direct material per unit $15

Direct labor per unit 20

Variable manufacturing overhead per unit 3

Fixed manufacturing overhead for the year $150,000

The company also had fixed selling and administrative expenses of $80,000 for the year. During the year, the company produced 40,000 units of product and sold 35,000 units of product. What is the amount of fixed manufacturing overhead in ending inventory using absorption costing?