1. Assume that actual overhead is $982,000 in a given year and the overhead rate is $14 per unit, 70,000 units were sold, and 69,000 units were produced. For the end of the year, is overhead underapplied or overapplied, and by how much?

2. If the overhead rate is $11 per machine hour, and there are 20 labor hours, 15 machine hours, and 4 personnel on the job, how much overhead should be applied to the job?

3. A small consulting firm has an overhead rate of 150% of direct labor charged to each job. The materials cost (including travel and other direct costs) for a particular job is $15,000 and the direct labor is $25,000. What is the total job cost for this job?

4. Departmental rates are appropriate when all the following existexcept: a. Not all products pass through the same processes.

b. Departments are not similar in function.

c. Departments have dissimilar cost drivers.

d. All departments have similar cost drivers and cost usage characteristics.

e.Products consume departmental resources in a significantly different manner.

5. Product costing provides useful cost information for all the followingexcept:

a. Both manufacturing and non-manufacturing firms.

b. For non-manufacturing firms.

c. Management planning, cost control, and performance evaluation.

d. Financial statement reporting.

e. Identifying and hiring competent managers.

6. If the end-of-period balance for cost of goods sold is $106,000 and underapplied overhead is $18,000, what is the ending balance in the Cost of Goods Sold account, after adjusting for the underapplied overhead?