Problem 1. (4 points) A company reports the following for the current year: The Cost of Goods Manufactured is a. $1,500 b. $1,700 c. $7,500 d. $2,800 e. $4,700 Problem 2. (4 points) A company's predetermined overhead rate is 150% of its direct labor costs. How much overhead is applied to a job that requires total direct labor costs of $30,000 ? a. $15,000 b. $30,000 c. $45,000 d. $60,000 e. $75,000 Problem 3. (6 points) A company uses direct labor costs to apply overhead. Its production costs for the period are: direct materials, $45,000; direct labor, $35,000; and overhead applied, $38,500. What is its predetermined overhead rate? a. 10% b. 110% c. 86% d. 91% e. 117%