Cardinal, Inc. thinks machine hours is the best activity base for its manufacturing overhead. The estimate of annual overhead costs for its jobs was $700,000. The company used 1,000 hours of processing on Job No.B343 during the period and incurred overhead costs totaling $670,000. The budgeted machine hours for the year totaled 20,000. How much overhead should be applied to Job No. B343? $700 $35,000 $33,500 $670