A manufacturer of industrial fasteners produces high-strength bolts. Last year, they sold 35,000 bolts at a price of 50 each. Their total fixed cost…

A manufacturer of industrial fasteners produces high-strength bolts. Last year, they sold 35,000 bolts at a price of 50 each. Their total fixed cost was - 7,50,000 (including - 2,50,000 depreciation on machinery) incurred uniformly throughout the year. There was no inventory at the beginning and all bolts produced during the year were shipped out, resulting in no inventory at the end of the year. The company's cash break-even point is 20,000 bolts. Calculate the amount of total variable costs incurred.