The cost of a product is composed of which of the following?

1. actual cost of direct materials used in the job, but estimated costs for the direct labor and overhead used in the product

2. the actual cost of the direct materials, direct labor and overhead used to manufacture the product.

3. the actual cost of the direct materials and direct labor used in the product, plus an estimated amount of overhead cost

4. estimated costs for the direct materials, direct labor and overhead used in the product