Answer:
$53,380
Explanation:
Total estimated cost is function of two cost element; direct labor cost and overhead costs. The overhead cost is in turn a function of direct labor hour.
Considering these cost elements;
Direct labor hours = 340
Direct labor cost per hour = $78
Direct labor cost = $78 × 340 = $26,520
Overhead costs per direct labor hour = $78
Overhead costs = $79 × 340 = $26,860
Total estimated cost for this job = $26,860 + $26,520 = $53,380
