Golden Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 22,500 hours. At the end of the year, actual direct labor-hours for the year were 21,300 hours, the actual manufacturing overhead for the year was $548,320, and manufacturing overhead for the year was underapplied by $24,340. The estimated manufacturing overhead at the beginning of the year used in the predetermined overhead rate must have been:

Multiple Choice

• $543,140.

• $573,746.

• $553,500.

• $523,980.