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Problem 1: Which of the following statements is true about overhead?
Option 1: Overhead costs are not incurred uniformly throughout the year.Option 1: Overhead costs have a definite, identifiable relationship with units produced.Option 1: Low production in one month would give rise to low unit overhead costs.Option 1: None of these statements are correct.
Problem 2: Morrow Company applies overhead based on direct labor hours. At the beginning of the year, Morrow estimates overhead to be $620,000, machine hours to be 180,000, and direct labor hours to be 40,000. During February, Morrow has 4,200 direct labor hours and 8,000 machine hours. What is the predetermined overhead rate?
Option 1: $147.62 per direct labor hour.Option 2: $77.50 per direct labor hour.Option 3: $15.50 per direct labor hour.Option 4: $3.44 per direct machine hour
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