1.) A company estimated $420,000 of factory overhead cost and 16,000 direct labor hours for the period. During the period, a job was completed with $4,500 of direct materials and $3000 of direct labor. the direct labor rate was $15 per hour. What is the factory overhead applied to this job? Show your solution.

2.) During the month of May, ABC Corporation, a manufacturing company, purchased raw materials costing $76,000. The cost of goods manufactured for the month was $129,000. The beginning balance in the raw materials account was $26,000 and the ending balance was $21,000. The beginning balance in the finished goods account was $52,000 and the ending balance was $35,000.

Required:

a. What was the cost of raw materials used in production during May? Show your solution.

b. What was the cost of goods sold for May? Show your solution.

c. What data are needed to analyze the cost of goods manufactured, and why?