Quick Step Company is debating the use of direct labor cost or direct labor hours as the cost allocation base for allocating manufacturing overhead. The following information is available for the most recent year: 
If Quick Step Company uses direct labor cost as the allocation base, what would the allocated manufacturing overhead be for the year?
Definitions:
New Monopolies
Emerging dominant players in a market that manage to obtain exclusive control over a product or service, often through innovation or consolidation.
Existing Monopolies
Firms that have exclusive control over a market or product, allowing them to set prices higher than in competitive markets due to a lack of alternatives.
Interest-Rate Cost
The expense associated with borrowing funds, expressed as a percentage of the total borrowed amount.
R&D Expenditure
Financial spending devoted to research and development activities by a company or organization.
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