Jones Closers specializes in closing residential mortgage transactions. The company employs a large number of people and some individuals specialize in overseeing the final session where the details of the loan are finalized and the borrower(s) are typically present to execute the documents. Jones allows 2 hours for each closing and the standard cost for a 2-hour session is $80. The 2-hour standard time includes breaks for the staff. During the last year, in response to more requirements and stricter enforcement of existing requirements, the staff closed 1200 loans in 3,200 hours. Assuming no change in labor costs and a work force that is no less or no more efficient than the work force in place when the standard was established, estimate the total cost to Jones of the added requirements and increased scrutiny.