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 $360,000 and direct labor hours would be 30,000. Actual factory overhead costs incurred were $377,200, and actual direct labor hours were 36,000. What is the amount of or underapplied manufacturing overhead at the end of the year? a. $6,000 overapplied b. $6,000 underapplied c. $54,800 overapplied d. $54,800 underapplied Use the information below for Adams Company to answer the questions that follow. 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 Job. No Balance 356 357 358 359 360 S 450 1,235 378 689 456 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. $456 b. $1,067 e. $1,685 . $2,752 9. The cost of production of completed and transferred goods during the period amounted to $540,000, and finished products shipped to customers had total production costs of $375,000. The entry to record the transfer of costs from work in process to finished goods is a. Finished Goods 375,000 540,000 540,000 375,000 Work in Process 375,000 540,000 540,000 375,000 b. Finished Goods Work in Process Finished Goods Finished Goods c. Work in Process d. Work in Process 10. A separate account for each material is found in a a. general ledger b. materials ledger c. receiving report d. job cost sheet