QUESTION 14 Which of the following is not correct? a. Purchase of long-term investments for $76,500 decreases cash in Investing for $76,500 b. Increase in Prepaid Rent of $4,500 decreases cash in Operating for 54,500 c. Sale of land originally costing 560,000 for 566,000 increases cash in Operating for $6,000 and increases cash in Investing for $60,000 d. Depreciation of $20,000 increases cash in Operating for $20,000 QUESTION 15 Given the following cost and activity observations for Smith Company's lies, use the high-low method to determine Smith 's fixed costs per month. Do not round your intermediate calculations January February March Cost $52,200 75,000 57,000 64,000 Machine Hours 20,000 29,000 22,000 24,500 April a $22,800 $10.00 OcS1,533 0.52510 QUESTION 16 Macklin Company forecasts that total overhead for the current year will be $13,500,000 with 500,000 total machine hours. Year to date, the actual overhead is $14,000,000 and the actual machine hours are 530,000 hours. If Macklin Company uses a predetermined overhead rate based on machine hours for applying overhead of this point in time you to date), the overhead is a $310,000 overupplied b.$500,000 overapplied C 3500,000 underapplied d. $310,000 underapplied