The following information is available: Estimated Factory Overhead for the year Estimated Direct Labor Hours for the year Actual Factory Overhead for the year Actual Direct Labor Hours for the year $5,000 4,000 $5,100 4,020 1. What is the application rate to be used by the company? A. $2.05 B. $2.00 C. $1.50 D. $1.25 2. What is the amount of the Applied Factory Overhead? A. $6,030 B. $5,025 C. $8,040 D. Not enough information 3. Is the Factory Overhead Account over or under applied and by how much? A. $100 Overapplied B. $60 Underapplied C. $60 Overapplied D. $75 Underapplied 4. Depreciation expense on the factory equipment was $6,000. What is the journal entry? A. WIP $6,000; FOH $6,000 B. FOH $6,000, WIP $6,000 C. FOH $6,000; Accumulated Depreciation $6,000 D. Accumulated Depreciation $6,000; FOH $6,000 5. Factory overhead applied this period was $5,000. What is the journal entry? A. WIP 5,000; Materials $5,000 B. WIP $5,000; COGS $5,000 C. WIP $5,000; FOH $5,000 D. COGS $5,000; WIP $5,000