AC 302 Managerial Accounting Chapter 2 - Assignment Problems (SHOW ALL WORK). 1. If one unit of Product Z2 used $2.50 of direct materials and S3.00 of direct labor, sold for $8.00, and was assigned overhead at the rate of 30% of direct labor costs. Q#1. What is the total cost per unit? A. $6.40. B. $5.50 C. $2.50 D. $1.60 E. $0.90 Q#2 How much gross profit was realized from this sale? A. $6.40 B. $5.50 C. $2.50. D. $1.60. E. $0.90 2. Adams Manufacturing allocates overhead to production on the basis of direct labor costs. At the beginning of the year, Adams estimated total overhead of $396,000; materials of $410,000 and direct labor of $220,000. During the year Adams incurred $418,000 in materials costs, $413,200 in overhead costs and $224,000 in direct labor costs. Q#1. Cormpute the amount of overhead applied to jobs during the year. A. $396,000. B. $424,450. C. $413,190. D. $413,200. E. $403,200. Q#2. Compute the amount of under-or overapplied overhead for the year. A. $10,000 overapplied. B. $17,200 overapplied C. $10,000 underapplied. D. $17,200 underapplied. E. $4,800 underapplied. Page 1 of 2