Schmitz Company makes office chairs. What is the gross profit for February? The company produced 9,000 chairs and sold 6,000 chairs for $51 retail price each. Total direct materials used in February was $30,000. The company estimated $800,000 in overhead for the year and 100,000 direct labor hours worked during the year. The company estimates overhead based on direct labor hours. During February, the company incurred 5,375 hours of direct labor. In February, the company incurred $170,000 of direct labor and $10,000 of indirect labor