predetermined overhead rate based on direct labor-hours to Q10. Towson Co. uses a apply manufacturing overhead to jobs. For the month of July, Towson's estimated manufacturing overhead cost was $300,000 based on an estimated activity level of 150,000 direct labor-hours. Actual overhead amounted to $260,000 with actual direct labor-hours totaling 120,000 for the month. How much was the over applied or under applied overhead? And what change should the company make in terms of cost of goods sold to balance the manufacturing overhead account? A. $20,000 over applied, decreases cost of goods sold $20,000 B. $20,000 under applied, increases cost of goods sold $20,000 C. $25,000 over applied, decreases cost of goods sold $25,000 D. $25,000 under applied, increases cost of goods sold $25,000 Q12. Suppose you have a work-study job in the office of your college's president, and she asks you to compute the cost of instruction per full-time equivalent student at your college. The college's vice president for finance provides the following information Suppose part-time students take 80% ofthe classes of a full-time student during the year 3 Costs: llustration 16-6 $176,000,000 Total cost of instruction Student population: Full-time students 800 Part-time students 1,200 Calculate the number of full-time equivalent students per year (including the current full time students A. 1760 students B. 800 students C. 950 students D. 1660 students