14) Snicker Stampings allocates overhead to products based on machine hours. It uses a flexible overhead budget to calculate a predetermined overhead rate at the beginning of the year. This rate is used during the year to allocate overhead to the various stampings produced. The following table summarizes operations for the last year:

Required:

In setting the overhead rate at the beginning of the year, what budgeted volume of machine hours was used?

\begin{tabular}{lr} Budgeted fixed overhead & $3,800,000 \\ Over-absorbed overhead variance & $220,000 \\ Actual machine hours & 46,000 \\ Variable overhead per machine hour & $100 \\ Actual overhead incurred & $8,750,000 \end{tabular}