On January 1, 2020, X Company estimated the following costs for the year: Direct materials Direct labor Factory supplies Factory supervision Marketing research Factory rent Sales salaries Factory insurance $57,800 78,400 19,500 31,200 43,400 45,600 47,000 65,200 X Company also estimated 5,600 direct labor hours and 61,000 machine hours for the year. The company uses a plantwide overhead allcoation system, with direct labor hours as the cost driver. If the direct labor cost for one of its products was $7,840, and the product required 672 direct labor hours, how much overhead was allocated to it (round overhead rate(s) to two decimal places)