1. Adams Company is a manufacturing company that has worked on several production jobs during the first quarter of the year. Below is a list of all the jobs for the quarter:

	Balance
Job No. 356	$ 450
Job No. 357	1,235
Job No. 358	378
Job No. 359	689
Job No. 360	456

Jobs 356, 357, 358, and 359 were completed. Jobs 356 and 357 were sold at a profit of $500 on each job. What is the ending balance of Finished Goods for Adams Company at the end of the first quarter?

a.$2,752

b.$1,067

c.$1,685

d.$456

2.

A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $335,000 and direct labor hours would be 45,100. Actual manufacturing overhead costs incurred were $322,100, and actual direct labor hours were 53,100. What is the predetermined overhead rate per direct labor hour?

a.$5.94

b.$7.43

c.$11.14

d.$8.91