Cooper Ltd. uses a job-order costing system with machine hours as the allocation base for overhead. The company uses normal costing to develop their overhead allocation rate. The following information is available at the beginning of the year: Estimate Estimated factory overhead costs $1,600,000 Estimated machine hours 100,000 On August 31 the following information was available: Job # Job # Description 1020 1021 Direct materials $12,000 $3,150 Direct labour $8,500 $4,000 Machine hours 120 30 Use the above information to answer the questions which follow. Question 22 (1 point) What is the overhead allocation rate per machine hour? Question 22 (1 point) 3 What is the overhead allocation rate per machine hour? A/ Question 23 (1 point) The amount of overhead applied to Job 1020 is $ A/ Question 24 (1 point) The total cost of Job 1021, after overhead is applied, is $ 2 Question 25 (2 points) Job 1020 was completed in August and the client was billed at cost plus 60%. The price of lah 1020 was $ Job 1020 was completed in August and the client was billed at cost plus 60%. The price of Job 1020 was $ 3 Question 26 (2 points) At the end of the year actual machine hours were 94,000; therefore, total overhead applied to all jobs for the year was $ 7 Question 27 (1 point) At the end of the year actual factory overhead is $1,472,000. This means that factory overhead is 12 a) Over-applied b) Under-applied Question 27 (1 point) At the end of the year actual factory overhead is $1,472,000. This means that factory overhead is a) Over-applied b) Under-applied 7 c) Neither over- or under-applied Question 28 (2 points) The total over- or under-applied factory overhead for the year is $ Enter your answer as a positive number. 12 A Next Page Page 5 of 9