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Which of the following statements is true about underapplied overhead? Actual overhead was less than the estimated overhead charged to the Work-in-Process account. Actual overhead was more than the estimated overhead charged to the Work-in-Process account. Estimated overhead was more than the actual cost of goods sold. Actual overhead was less than the actual cost of goods sold. Maxis Tech is trying to determine how an employee's performance rating could be explained by his/her level of education (EDU), the length of employment (EMP) with the company, and the number of training (TRN) hours received. Using data from 100 of its employees, Maxis Tech performs a regression analysis with the following results: Performance rating =0.2+0.32EDU+0.15EMP+0.07TRN R-squared =0.72 p-value for EDU=0.463 p-value for EMP=0.008 p-value for TRN=0.005 The value of these terms in the parentheses (EDU, EMP, and TRN) represent the p-values of the regression coefficient. Which of the following statements best describes the statistical significance of the impact of the three factors on employee performance ratings? None of the factors has a statistically significant impact. The impact of all three is statistically significant because the R2 is relatively high. Both length of employment with the company and number of training hours received have statistically significant impact because the p-values indicate a high level of statistical significance. Only the impact of number of training hours received is statistically significant because it has the highest pvalue. Catherine B. is working with her production supervisor to compute a predetermined overhead rate for the coming year. Catherine and her production supervisor have put together a budget of 1,400 direct labor hours for the coming year. During the same period, they plan to use 2,000 machine hours. Catherine has assembled the following information for the upcoming year: If Catherine decides to use a predetermined overhead rate based on machine hours, what would be the predetermined overhead rate (if necessary, round your answer to two decimal places)? $212.10 per machine hour. $121.10 per machine hour. $91.00 per machine hour. $173.00 per machine hour