Assume that a company uses a standard cost system and applies overhead to production based on direct labor-hours. It provided the following information for its most recent year Actual fixed overhead cost for the year Budgeted direct labor-hours Actual direct labor-hours. $276,000 60,000 56,000 Standard direct labor-hours allowed for the actual output Fixed overhead budget variance 58,000 $ 24,000 F What is the total budgeted fixed cost for the year