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A budget is an operating plan that may be expressed in either financial or non-financial terms. True False A bottom-up approach to budgeting is circular while a top-down approach is linear. True False Karen Jewelry manufactures jewelry. It applies overhead based on direct labor hours. In October, Karen is planning to make 540 rings, 400 bracelets, and 210 pendants. The company expects the total manufacturing overhead for the year would be $3485000 and that total direct labor hours for the year would be 85000. Actual overhead incurred for October was $295920. Each eing requires 6.45 hours of labor to manufacture; each bracelet requires 5.4 hours of labor to manufacture, and each pendant requires 4 hours of labor to manufacture. What is the standard overhead cost per bracelet? $230.85 I $221.40 $41.00 $42.75