Bridgers Corporation has 200,000 shares of $5 par common stock issued and outstanding. Bridgers Corporation also has 50,000 shares of $100, 5% par cumulative preferred stock. In 2020, Bridgers had net income of $3,000,000. The number of shares of both common and preferred stock has not changed during the year, and the preferred stock dividends were paid at the end of 2020. What are the common earnings per share (EPS) for 2020? Round to the nearest cent.

$18.5

$13.50

$13.75

$18.75

A manufacturing company allocates overhead at a fixed rate of $20 per hour based on direct labor hours. During the month, total overhead incurred was $150,000, and the total direct labor hours worked was 4,000. Job number 5-50 had 600 hours of direct labor. What is the amount of overhead allocated to job 5-50?

$12,000

$150,000

$72,000

$10,800

The welding department had beginning work in process of 30,000 units, ending work in process of 26,000 units, and units transferred out of 50,000 units. What was the number of units started or transferred in?

26,000

46,000

70,000

51,000

Abel Corp. is a job lot manufacturer. The budget for the month of June calls for 5,000 direct labor hours to be worked. Budgeted overhead is $150,000 with a predetermined rate of $30 per hour. Overhead is applied based on actual direct hours worked. Actual direct hours were 7,000 and actual overhead spending was $196,000. What was the under applied or over applied overhead for the month of June? Over applied is shown as a negative number.

$26,000

($8,000)

($14,000)

26,000