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 = $263,000 + ($94 x Direct Labor Hours) Required: 1. Select the term in the right column that corresponds to the term in the left column. Overhead cost $263,000 $94 Direct labor hours 2. If next month's budgeted direct labor hours equal 16,000, what is the budgeted overhead cost? $fill in the blank 5 3. If next quarter's budgeted direct labor hours equal 48,000, what is the budgeted overhead cost? $fill in the blank 6 4. If next year's budgeted direct labor hours equal 192,000, what is the budgeted overhead cost?