Carattini Incorporated makes a single product-an electrical motor used in many long-haul trucks. The company has a standard cost system in which it applies overhead to this product based on the standard labor-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Total budgeted manufacturing overhead$360,000 Budgeted hours 36,000labor-hoursStandard hours allowed for the actual production 34,200labor-hoursTotal actual manufacturing overhead$340,376 Actual hours 37,200labor-hoursThe total amount of manufacturing overhead applied is closest to:
A. $340,376
B. $372,000
C. $312,900
D. $342,000
Answer: D
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