Cost Management: A Strategic Emphasis |(7th Edition) Chapter 4, Problem 43P Bookmark Show all steps: ON Problem Cost Flows; Application of Overhead Dream Makers is a small manufacturer of gold and platinum jewelry. It uses a job costing system that applies overhead on the basis of direct labor hours. Budgeted factory overhead for the year was $455,600, and management budgeted 33,500 direct labor-hours. The company had no materials, work-in-process, or finished goods inventory at the beginning of April. These transactions were recorded during April: a. April insurance cost for the manufacturing property and equipment was $1,800. The premium had been paid in January. Cost Management: A Strategic Emphasis |(7th Edition) Chapter 4, Problem 43P Bookmark Show all steps: ON Problem Cost Flows; Application of Overhead Dream Makers is a small manufacturer of gold and platinum jewelry. It uses a job costing system that applies overhead on the basis of direct labor hours. Budgeted factory overhead for the year was $455,600, and management budgeted 33,500 direct labor-hours. The company had no materials, work-in-process, or finished goods inventory at the beginning of April. These transactions were recorded during April: a. April insurance cost for the manufacturing property and equipment was $1,800. The premium had been paid in January