During its first year of operations, Carlos Manufacturing Corporation incurred the following costs to produce 8,000 units of its only product: 
The company also incurred the following costs in selling 7,500 units of product during its first year: 
Assume that direct labor is a variable cost. Under absorption costing, what is the total cost that would be assigned to Carlos' finished goods inventory at the end of the first year of operations?
Definitions:
Federal Funds
Reserves that banks lend to each other overnight to meet their reserve requirements set by the Federal Reserve.
Elite-Old Adults
Refers to individuals who are in the oldest age bracket, typically considered to be those over the age of 85, recognized for their resilience and adaptation to the aging process.
Reminiscence Group
A therapeutic activity involving a group of people sharing memories and personal experiences, often used in settings like nursing homes or therapy groups.
Online Social Network
A platform or website that enables users to create and share content or participate in social networking online.
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