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10. 8 Canada Manufacturing provided the following information from its accounting records 20120: Estimated production Actual production Budgeted overhead Actual overhead c. 14.50 per hour d. 15.54 per hour How much is the overhead application rate if Canada bases the rate on direct labor hours? a. 16.07 per hour b. 15.00 per hour 60,000 labor hours 56,000 labor hours 900,000 870,000 9. During 2020, Canada Manufacturing expected Job No. 26 to cost 300,000 of overhead, 500,000 of materials, and 200,000 in labor. Canada applied overhead based on direct labor cost. Actual production required overhead cost of 290,000, 550,000 of materials used, and 220,000 of labor. b. 1,060,000 c. 1,070,000 d. 1,100,000 All of the goods were completed. What amount was transferred to Finished Goods? a. 1,000,000 During 2020, Canada Manufacturing expected Job No. 59 to cost 300,000 of overhead, 500,000 of materials, and 200,000 in labour. Canada applied overhead based on direct labor cost. Actual production required an overhead cost of 295,000, 570,000 in materials used, and 220,000 in labor. a. 5,000 underapplied b. 5,000 overapplied c. 35,000 underapplied d. 35,000 overapplied All of the goods were completed. How much is the amount of over- or underapplied overhead? 11. At the high level of activity in November, 7,000 machine hours were run and power costs were $18,000. In April, a month of low activity, 2,000 machine hours were run and power costs amounted to $9,000. Using the high-low method, the estimated fixed cost element of power costs is a. $18,000. b. $9,000. c. $5,400. d. $12,600. 12