Schuller Corporation applies overhead based on labor hours. At the beginning of the year, estimated manufacturing overhead was $266,400 and estimated labor hours were 18,500. Actual factory overhead at the end of the year was $287,920 and actual labor hours were 19,050. Before the adjusting entry for overhead variance, cost of goods sold at Schuller was $570,000 for the year. What will be the cost of goods sold balance after the adjusting entry for overhead variance is made at the end of the year assuming the overhead variance is closed to the cost of goods sold account? $573,600 $583,600 $556,400 O $570,000 None of the above