X Company has two production departments, X and Y. Listed below is budgeted information for the two departments, and actual information for one of its products, Product 1: Product 1 All Products $2,700,000 $600,000 40,000 120,000 60,000 $12,795 853 1,030 650 Department x Overhead Direct labor Direct labor hours Machine hours Units produced Department y Overhead Direct labor Direct labor hours Machine hours Units produced $1,900,000 $600,000 40,000 120,000 34,000 $3,765 251 820 650 Using a departmental allocation system with direct labor hours as the cost driver in Department X and machine hours as the cost driver in Department Y, what was the allocation to Product 1 [round rate(s) to two decimal places]