Balcom Enterprises is planning to introduce a new product that will sell for $115 a unit Manufacturing cost estimates for 27500 units for the first year of production are > Direct materials $1220,000 Direct labor $578.000 (based on $17 per hour 34,000 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 Inear regression. The analysis results are as follows: Dependent variable Independent variable Intercept Coefficient on independent variable Coefficient of correlation R2 Factory overhead costs Direct labor hours $135,000 5 4.00 0.956 0.844 Based on this information what is the total overhead cost for an estimated activity level of 44.000 direct labor.hou