View Policies Current Attempt in Progress Bonita Industries had the following information at December 31: $ 70000 Finished goods inventory, January 1 Finished goods inventory, December 31 150000 If the cost of goods manufactured during the year amounted to $2200000 and annual sales were $2750000, the amount of gross profit for the year is $2120000. $630000. O $470000. $550000. View Policies Current Attempt in Progress During 2019, Bramble Corp. expected Job no. 59 to cost $300000 of overhead, $440000 of materials, and $200000 in labor. Bramble applied overhead based on direct labor cost. Actual production required an overhead cost of $235000, $510000 in materials used, and $160000 in labor. All of the goods were completed. How much is the amount of over- or underapplied overhead? $5000 underapplied $65000 underapplied $65000 overapplied $5000 overapplied View Policies Current Attempt in Progress Oriole Company applies overhead on the basis of 200% of direct labor cost. Job No. 501 is charged with $320000 of direct materials costs and $380000 of manufacturing overhead. The total manufacturing costs for Job No. 501 is $700000. $890000. $1080000. $1020000