Likes Incorporated makes a single producta cooling coil used in commercial refrigerators. The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period. Data concerning the most recent year appear below:

Total budgeted manufacturing overhead $ 495,040

Budgeted production (a) 35,000 units

Standard hours per unit (b) 1.70 machine-hours

Budgeted hours (a) (b) 59,500 machine-hours

Applying Overhead:

Actual production (a) 30,000 units

Standard hours per unit (b) 1.70 machine-hours

Standard hours allowed for the actual production (a) (b) 51,000 machine-hours

Total actual manufacturing overhead $ 498,000

Actual hours 52,000 machine-hours

The total amount of manufacturing overhead applied is closest to:

Multiple Choice

$488,400

$424,320

$432,640

$498,000