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.