Question: 1. Nokia applies overhead to product costs. What account(s) is(are) used to eliminate overapplied or underapplied overhead from the Factory Overhead account, assuming the amount is not material?
2. An advertising agency is estimating costs for advertising a music festival. The job will require 50 direct labor hours at a cost of $60 per hour. Overhead costs are applied at a rate of $95 per direct labor hour. What is the total estimated cost for this job?