Spang Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine- hour 20,000 $176,000 2.20 Recently, Job P505 was completed with the following characteristics Total machine-hours Direct materials Direct labor cost 200 $ 540 $7,200 The amount of overhead applied to Job P505 is closest to: Multiple Choice 0 O $2,200 0 O $1760 0 $2,640 0 $440