12) Manufacturing overhead was estimated to be $400,000 for the year along with 20,000 direct labon hours. Actual manufacturing overhead was $415,000, actual labor hours were 21,000. The predetermined manufacturing overhead rate per direct labor hour would be: A) S19.05. B) $20.75. C) $20.00. D) S0.05. 13) Manufacturing overhead was estimated to be $400,000 for the year along with 20,000 direct labor hours. Actual manufacturing overhead was $415,000, actual labor hours were 21,000. The amournt of manufacturing overhead applied to production would be: A) $400,000. B) $420,000. C) S435,750. D) $415,000. 14) Which of the following represents the cost of materials purchased but not yet issued to production A) Raw Materials Inventory C) Cost of Goods Sold B) Finished Goods Inventory D) Work in Process Inventory 15) Manufacturing overhead was estimated to be $250,000 for the year along with 20,000 direct labor hours. Actual manufacturing overhead was $225,000, and actual direct labor hours were 19,000. Which of the following would be correct? A) Overhead is underapplied by $25,000. C) Overhead is underapplied by $12,500. B) Overhead is overapplied by $12,500. D) Overhead is overapplied by $25,000. 16) Optimum Finance Inc. provides budget, savings, and investment services to clients who want a stress-free financial lifestyle. The company customizes a program for each client based on their individual goals that includes budget recommendations, investment counseling, and savings techniques. The company uses a job order cost system that keeps track of the cost of the amount of time financial consultants spend with each client. Optimum applies all indirect operating costs (e.g., rent, utilities, and management salaries) as a percentage of the consultant's labor cost. During the most recent year, the firm estimated that it wo pay $500,000 to its consultants and incur indirect operating costs of $750,000. Actual consultant labor costs were $537,500 and actual indirect operating costs were $725,000. What is the predetermined overhead rate that Optimum will use for the current year? A) $0.67 per dollar of consultant labor cost C) S1.45 per dollar of consultant labor cost B) $1.50 per dollar of consultant labor cost D) $1.35 per dollar of consultant labor cost