On January 1, 2020, X Company estimated the following costs for the year: Direct materials Direct labor Factory supplies Factory supervision Advertising Factory rent Sales salaries Factory insurance $65,200 70,000 21,700 31,600 40,200 45,500 46,000 60,200 X Company also estimated 5,000 direct labor hours and 62,000 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 $14,000, and the product required 700 direct labor hours, how much overhead was allocated to it (round overhead rate(s) to two decimal places)