Jeffrey Deaver, controller for Go Carts Limited (GCL) has just finished a market analysis of prices for electric golf carts. GCL currently sells 8,000 of its model of the electric golf cart for $3,000 each. A new competitor will sell a comparable cart for $2,800. Deaver has determined that dropping GCLs price to $2,850 would help the firm keep its annual market share of 8,000 golf carts. Deaver presents the following current information at 8,000 carts:

Budget Actual Actual Amounts Amounts Cost Direct materials $4,200,000 $4,500,000 $4,500,000 Direct labour 100,000 hrs 125,000 hrs $1,750,000 Machine setups 75,000 hrs 75,000 hrs $ 750,000 Mechanical assembly 375,000 hrs 400,000 hrs $5,000,000

Calculate the target cost if the current profit in dollars per golf cart is to be maintained.