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On January 1, 2020, X Company estimated the following costs for the year: Direct materials $54,200 Direct labor 72,800 Factory supplies 19,700 Factory maintenance 29,700

On January 1, 2020, X Company estimated the following costs for the year:

Direct materials $54,200
Direct labor 72,800
Factory supplies 19,700
Factory maintenance 29,700
Marketing research 44,600
Factory rent 44,800
Sales salaries 43,000
Factory insurance 62,000

X Company also estimated 5,200 direct labor hours and 60,000 machine hours for the year.

The company uses a plantwide overhead allcoation system, with direct labor cost as the cost driver.

If the direct labor cost for one of its products was $7,280, and the product required 624 direct labor hours, how much overhead was allocated to it (round overhead rate(s) to two decimal places)?

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