QUESTION 7 Hillsborough Street Manufacturing Inc. Hillsborough Street Manulacturing Inc. incurred the following costs in 2011 Direct materials used Direct labor costs $51,000 45,000 18,000 7500 8,000 10,000 Factory rent and utilities Factory equipment depreciation Marketing expenses Administrative expenses 45000 units were produced during the year out of which 38.000 units were sold for $10 each There was no beginning or ending raw materials or work in process imventory Refer to the Hillsborough Street Manufacturing Inc. information above What is cost of goods sold for the year? $102.600 $121 500 $117.000 $139.500 QUESTION 15 Rolling Hills Construction Rolling Hills Construction Co. assigns overhead to specific jobs based on actual direct labor cost (dollars). The following information is available for the month of June: Estimated direct labor hours Estimated direct labor cost per hour Estimated overhead costs Actual direct labor hours Actual direct labor cost per hour Actual overhead costs 2,000 hours $12/hour $3,000 2,300 hours $13/hour $3,300 Refer to the Rolling Hills Construction information above. The predetermined overhead rate for the month of June is S0.125 per direct labor dollar $1.250 per direct labor dollar $0.110 per direct labor dollar $8.000 per direct labor dollar