The electric bulb manufacturer Philips Electronics uses an actual costing system using the labour hours as cost allocation base and reports the following data for the year 2020:

Actual manufacturing overhead costs: 2,600,000

Actual labour hours: 52,000

Budgeted manufacturing overhead costs: 3,000,000

Budgeted labour hours: 60,000

Calculate the manufacturing overhead allocated by Philips Electronics during 2020.