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Assignment 2 similar to Exercise 4-33) Johansson Inc. is a manufacturing company that uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 90,000 and estimated factory overhead is $580,000. The following information is for the prior year. \begin{tabular}{|l|l||} \hline Questions \\ \hline 1. Which inventory account has the highest balance in April? \\ \hline 2. Which inventory account has the highest balance in December? \\ \hline 3. Is January overhead over or under applied? \\ \hline 4. Is February overhead over or under applied? \\ \hline 5. How much is the February overhead over or under applied? Use a negative number for under applied and a positive number for over applied. \\ \hline 6. Is September inventory over or under applied? & \\ \hline 7. How much is the September overhead over or under applied? Use a negative number for under applied and a positive number for over applied. \\ \hline \end{tabular}