Question: 2. How much overhead was applied to production during the year? (Answer is not 306,507 even though I thought it would be since that is

2. How much overhead was applied to production during the year? (Answer is not 306,507 even though I thought it would be since that is the Actual hours worked x Predetermined overhead rate)

Overhead applied $

3. Using one or more answers above, what were the total costs assigned to work in process?

Total costs assigned $

4. Mark Barton owns a garage and is contemplating purchasing a tire retreading machine for $26,000. After estimating costs and revenues, Mark projects a net cash flow from the retreading machine of $4,400 annually for 8 years. Mark hopes to earn a return of 8 percent on such investments.

What is the present value of the retreading operation?

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