26) A company estimates that overhead costs for the next year will be $3,600,000 for indirect labor and $650,000 for factory utilities. The company uses machine hours as its overhead allocation base. If 75,000 machine hours are planned for this next year, how much overhead would be assigned to a product requiring 2.5 machine hours?

$141.67

$120.00

$4,250,250.00

$56.67.

27) A manufacturing company's Work-in-Process inventory on January 1 was $178,000; during the year it used $89,000 of direct material costs, incurred $120,000 of direct labor costs, $107,000 of actual overhead and applied $98,000 of overhead costs; the December 31 Work-in-Process inventory was $77,000. What was the cost of goods manufactured for that year (prior to any year-end adjusting entries, if any)?