Gulf Coast Shrimp Packaging supplies frozen shrimp to grocery chains. It expects sales of 400 tons of shrimp in the next quarter and it plans to produce 380 tons during the same quarter. Each ton requires 50 direct labor hours and employees are paid $15 per hour. Manufacturing overhead is applied at 120% of direct labor costs. What is the total amount to be budgeted for manufacturing overhead for the quarter? $376,200 $702,000 O $342,000 $360,000