Brown Inc. uses machine hours for its predetermined overhead rate. For the year, Brown had an overapplied manufacturing cost of $2,600. The additional information for the last year is given below.
Required:
The estimated manufacturing overhead at the beginning of the year used in the predetermined overhead rate must have been?
- Estimated Machine Hours For The Year : 17,300
- Actual Machine Hours For The Year : 16,700
- Actual Manufacturing Overhead Costs : $352,960
A) $362,948
B) $355,560
C) $365,541
D) $368,335
E) None
Note: Please show how you came up with the solution.