Steel Company uses activity-based costing and reports the following for this year. Allocate overhead costs to a job that uses 40 machine hours and 30 direct labor hours. Activity Budgeted CostActivity Cost DriverBudgeted Activity UsageCutting$ 56,000Machine hours (MH)2,000machine hours Assembly 240,000 Direct labor hours (DLH)6,000direct labor hoursTotal$ 296,000