Likes Incorporated makes a single product-a 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) 35,000unitsStandard hours per unit (b) 1.70machine-hoursBudgeted hours (a) × (b) 59,500machine-hours Applying Overhead: Actual production (a) 30,000unitsStandard hours per unit (b) 1.70machine-hoursStandard hours allowed for the actual production (a) × (b) 51,000machine-hours Total actual manufacturing overhead$498,000 Actual hours 52,000machine-hoursThe total amount of
manufacturing overhead applied is closest to:
A. $424,320
B. $498,000
C. $432,640
D. $488,400
Answer: A
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