. . . The following information is available: Estimated Factory Overhead for the year $3,000 Estimated Direct Labor Hours for the year 1,000 Actual Factory Overhead for the year $3,300 Actual Direct Labor Hours for the year 900 6. What is the application rate to be used by the company? A $2.61 B. $2.73 C. $3.00 D. $1.25 7. What is the amount of the Applied Factory Overhead? A $6,030 B. $3,450 C. $2,700 D. Not enough information 8. What is the closing entry for the Factory Overhead Account? A. $300 Overapplied B. $600 Underapplied C. $600 Overapplied D. $300 Underapplied 9. Materials requested by the factory totaled $50,000 of which $4,000 were indirect materials. What is the journal entry? A. WIP $46,000, FOH 4,000; Materials $44,000 B. WIP $50,000, FOH 4,000; Materials $54,000 C. WIP $50,000; Cash $50,000 D. WIP $46,000, FOH 4,000; Materials 50,000 10. Inventory sold during the year totaled $22,000. What is the journal entry? A. WIP $22,000; FG $22,000 B. FG $22,000; COGS $22,000 C. FG $22,000; WIP $22,000 D. COGS $22,000; FG $22,000