Use the following labor budget data for Roy & Miller Accounting, LLP.

Partner Salaries $800,000

Partner Benefits (40%) 320,000

Total Partner Compensation $1,120,000

Staff Accountant Salaries $1,000,000

Staff Benefits (40%) 400,000

Total Staff Compensation $1,400,000

The budgeted overhead cost for the year is $1,400,000. The company has estimated that one-third of the budgeted overhead cost is incurred to support the firm's two partners, and two-thirds goes to support the staff accountants. The current audit bid for Monoco Industries requires $18,000 in direct partner professional labor, $30,000 in direct staff accountant professional labor, $5,500 in direct material.

What is the total budgeted compensation for both partners and staff accountants?