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Deere Farm Products applies overhead using a predetermined overhead rate. Overhead is applied based on direct labor hours. At the beginning of the year it is estimated that $500,000 in overhead will be incurred and 25,000 hours will be worked. At year end, 24,000 hours were actually worked, and actual overhead costs were $470,000. What can be concluded from this? (Points: 5)Cost control was good.Overhead is overapplied by $10,000 Overhead is underapplied by $10,000 Overhead is applied at a rate of $19.58 per hour 9. Reeves Company uses a predetermined overhead rate of $6.00 per machine hour. If the predetermined overhead rate was $6 per machine hour, overhead was underapplied by $40,000, and actual machine hours were 70,000; what was the actual overhead cost? (Points: 5)$460,000 $380,000 $420,000 $360,000 10. Wingfield Company budgeted 121,000 direct labor hours and incurred 125,000 direct labor hours. It incurred $720,000 of overhead and estimated overhead was $726,000. What was the predetermined overhead rate? (Points: 5)$5.80 $6.00 $5.60 $5.76
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