Newcomb manufacturing company has identified these overhead cost pools and cost drivers: Overhead Cost Pool Budgeted Overhead Cost Cost Driver Machine setups $240,000 Number of setups Material Handling $90,000 Units of raw material Quality control inspection $48,000 Number of inspections Other overhead costs $160,000 Machine hours Total $538,000 Overhead Cost Pool Budgeted Level for Cost Driver Pool Rate Machine setups 200 setups $1,200 per setup Material Handling 60,000 units $1.50 per unit Quality control 1,200 inspections $40 per inspection Other overhead costs 20,000 machine hours $8 per machine hour Job 1040 has the following production requirements: Machine setups: 14 Raw material: 22,400 units Inspections: 32 Machine hours: 1700 Using a single plant-wide overhead allocation method based on machine hours, what is the dollar amount of overhead to be allocated to Job 1040