Identifying the Parts of the Cost Formula: Calculating Monthly, Quarterly, and Yearly Costs Using a Cost Formula Based on Monthly Data Gordon Company's controller, Eric Junior, estimated the following formula, based on monthly data, for overhead cost: Overhead Cost = $195,000 + ($66 times Direct Labor Hours) Select the term in the right column that corresponds to the term in the left column. If next month's budgeted direct labor hours equal 8,000, what is the budgeted overhead cost? $ 723,000 If next quarter's budgeted direct labor hours equal 40,000, what is the budgeted overhead cost? $ If next year's budgeted direct labor hours equal 160,000, what is the budgeted overhead cost? $