For financial reporting purposes, the total amount of product costs incurred to make 5,600 units is closest to:.

$80,360

Explanation:

The computation of the total amount of product cost incurred is shown below:

Particulars          Amount in $

Direct materials (A) 6.55

Direct Labour (B)   3.50

Variable manufacturing overhead(C) 1.30

Variable manufacturing cost per unit(A+B+C) 11.35

Total Variable Manufacturing cost  63560

($11.35 per unit × 5,600 Units) (D)

Total fixed manufacturing overhead cost

($3.00 × 5,600 ) (E)   $16,800

Total Product cost (D+E) $80,360

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