1. Harvey Spectre Corporation wes job weder costing. At the beginning of the year, the per al the company estimated facturing overhead cost of $225.000 and a varie manufacturing overhead cont of S1150 per direct labor. Ther manager att that tal of 26.500 direct labore will be required for the coming you. At the Iwpinning of the year, Harvey Spectre operatie had the following inty holce Raw materials S5.500 Work in process $12.000 Finished Goode S11500 The following transactions to place during the year tall sales and purchases were encount) 1. Raw materials who were purchased for production purposes Raw materials worth 500.000 wete requisitioned for the use in production (two-third of the tunt was direct material and the remaining indirect material) Dolny bill for the factory of Harvey Spectre Corporation stated S... Daliny bal for the corporate tice of Harvey Spectre Corporation totaled $13.000 Due to lower demand because of corid, the total direct laber has worked was 23,800, for the whole year. The labeur were paid state $13.95 per The indirect labour cost mounted to 5375.000 V. Additional salaries of S178.000 were given to cling & adminst Page 1 of 4 vil. Depeeciation cent incurred S$50.000 885 was factory machinery related and the remaindet wasotice equipment related) vill. Maintenance cost for factory machinery amounted to $20.000 Advertising expenses of $40,000 were actued und wutguid. + Harvey Specte Conte incumed total cost of rent for $20.00. (70% in factory related and remaining in office related expenses) Manufacturing overheat was applied to all jsb. tii 1.200 units were completed and transfered as tinished goods, cet of which 100 were sold to customenata selling price of $1.250 per un Required Calculate the total Manufacturing Cont fee Harvey Specter Corporation. (7 marks) Prepare all the necessary joumal entries to record Harvey Spectre Corporation factory related transaction. You must alu write the journal entry for su after calculating the cont of the mentioned beef. (5) Calculate whether Manufacturing Overhead is Over Applied or Under Applied, explain your anwwer Journaline the entry for MOFE vender applicat. (4 marka 1. Harvey Spectre Corporation wes job weder costing. At the beginning of the year, the per al the company estimated facturing overhead cost of $225.000 and a varie manufacturing overhead cont of S1150 per direct labor. Ther manager att that tal of 26.500 direct labore will be required for the coming you. At the Iwpinning of the year, Harvey Spectre operatie had the following inty holce Raw materials S5.500 Work in process $12.000 Finished Goode S11500 The following transactions to place during the year tall sales and purchases were encount) 1. Raw materials who were purchased for production purposes Raw materials worth 500.000 wete requisitioned for the use in production (two-third of the tunt was direct material and the remaining indirect material) Dolny bill for the factory of Harvey Spectre Corporation stated S... Daliny bal for the corporate tice of Harvey Spectre Corporation totaled $13.000 Due to lower demand because of corid, the total direct laber has worked was 23,800, for the whole year. The labeur were paid state $13.95 per The indirect labour cost mounted to 5375.000 V. Additional salaries of S178.000 were given to cling & adminst Page 1 of 4 vil. Depeeciation cent incurred S$50.000 885 was factory machinery related and the remaindet wasotice equipment related) vill. Maintenance cost for factory machinery amounted to $20.000 Advertising expenses of $40,000 were actued und wutguid. + Harvey Specte Conte incumed total cost of rent for $20.00. (70% in factory related and remaining in office related expenses) Manufacturing overheat was applied to all jsb. tii 1.200 units were completed and transfered as tinished goods, cet of which 100 were sold to customenata selling price of $1.250 per un Required Calculate the total Manufacturing Cont fee Harvey Specter Corporation. (7 marks) Prepare all the necessary joumal entries to record Harvey Spectre Corporation factory related transaction. You must alu write the journal entry for su after calculating the cont of the mentioned beef. (5) Calculate whether Manufacturing Overhead is Over Applied or Under Applied, explain your anwwer Journaline the entry for MOFE vender applicat. (4 marka