Balcom Enterprises is planning to introduce a new product that will sell for $100 a unit Manufacturing cost estimates for 20,500 units for the first year of production are: Direct materials $1,045,500. Direct labor $615,000 (based on $15 per hour * 41,000 hours). Although overhead has not be estimated for the new product, monthly data for Balcom's total production for the last two years has been analyzed using simple linear regression. The analysis results are as follows: Dependent variable Factory overhead costs Independent variable Direct labor hours Intercept $121,000 Coefficient on independent variable 4.00 Coefficient of correlation R2 0.816 $ 0.914 Based on this information, what is the total overhead cost for an estimated activity level of 46,000 direct labor-hours? Based on this information, what is the total overhead cost for an estimated activity level of 46,000 direct labor-hours? Multiple Choice $126,000 $305,000 $484,000 $184,000