Use the following labor budget data for Roy & Miller Accounting, LLP. Partner Salaries $ 600,000 Partner Benefits (40%) 240,000 Total Partner Compensation $ 840,000 Staff Accountant Salaries $ 800,000 Staff Benefits (40%) 320,000 Total Staff Compensation $ 1,120,000 The budgeted overhead cost for the year is $1,120,000. The company has estimated that one-third of the budgeted overhead cost is incurred to support the firms two partners, and two-thirds goes to support the staff accountants. The current audit bid for Monoco Industries requires $16,000 in direct partner professional labor, $28,000 in direct staff accountant professional labor, $5,300 in direct material. What is the total budgeted compensation for both partners and staf