1. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.)

Tyare Corporation had the following inventory balances at the beginning and end of May: Hill} ' 1 Half 3'3 Raw material 5 $3 5, 500 $55, 050 Finished Goods $35,533 $815,. 3133 Hock in Process $23,500 $15,040 [ During May. 555.500 in raw materials [all direct materials] were drawn from inventory and used in production. The com pany's predetermined overhead rate was $12 per direct labor-hour. and it paid its direct labor workers $15 per hour. A total of 500 hours of direct labor time had been expended on the jobs in the beginning Work in Process inventory accounL The ending Work in Process inventory account contained $5.050 of direct materials cost. The Corporation incurred 1445.000 of actual manufacturing overhead oust during the month and applied $45,500 in manufacturing overhead cost. The actual direct labor-hours worked during May totaled: Acheson Corporation. which applies manufacturing overhead on the basis of machine-hours. has provided the following data for its most recent year ofoperations Estimated manufacturing overhead $I15?,?EIB Estimated machinehours 4,53%! Actual manufacturing overhead $152!, 33% Actual machinehours 4,3443 ' The estimates of the manufacturing overhead and of machine-hours were made at the beginning ofthe year for the purpose of computing the company's predetermined overhead rate for the year. The applied manufacturing overhead for the year is closest to: {Round your inmnnedlate calculatIu-ru to 1 decimal platen} Gitano Products operates a job-order costing system and applies overhead cost to jobs on the basis of direct materials used in production (not on the basis of raw materials purchased). Its predetermined overhead rate was based on a cost formula that estimated $118,300 of manufacturing overhead for an estimated allocation base of $91,000 direct material dollars to be used in production. The company has provided the following data for the just completed year: Purchase of raw materials 138, 809 Direct labor cost 87, 908 Manufacturing overhead costs: Indirect labor 112,909 Property taxes 8,708 Depreciation of equipment 17, egg Maintenance 13, 809 Insurance Rent, building 32, 909 Beginning Ending Raw Materials 24,909 $ 15,080 Work in Process 44, 909 37, 920 Finished Goods 72, 989 57,909 Required: 1. Compute the predetermined overhead rate for the year. 2. Compute the amount of underapplied or overapplied overhead for the year. 3. Prepare a schedule of cost of goods manufactured for the year. Assume all raw materials are used in production as direct materials. 4. Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answer. 5. Assume that the $37.000 ending balance in Work in Process includes $8,700 of direct materials. Given this assumption, supply the information missing below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Assume that the $37,000 ending balance in Work in Process includes $8,700 of direct materials. Given this assumption, supply the information missing below:\fDacosta Corporation had only,r onejob in process on May I. Thejob had been charged with $2.466 of direct materials. $6.666 of direct labor. and $165164 of manufacturing overhead cost. The company.r assigns overhead cost tojobs using the predetermined overhead late of $16.66 per direct labor-hour. During May. the following activity was recorded: Raw materials {all direct materials]: Beginning balance $ 9,166 Purchased during the month 36,666 Used in production $39,966 Labor: Direct laborhours worked during the month 1,566 Direct labor cost incurred $25,116 Actual manufacturing overhead costs incurred $33,966 Inventories: Raw materials, May 36 3 work in process, May 36 $1?,663 ' 1.I'Il'orl-I: in process inventory on lvlaz,r 36 contains $3.646 ofdirect labor cost. Raw materials consist solelyI ofitems that are classied as direct materials. The balance in the raw materials inventor}.r account on May 36 was: \fReq 1 Reg 2 Rey 3 Reg 4A Reg 18 Reg 5 Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) Accounts Receivable Sales Beg. Bal 1.700.000 % Beg. Bal 1,700,000 End Bal 1,700,000 End. Bal. 1.700,000 Raw Materials Cost of Goods Sold Beg Bal 40,000 235 000 Beg. Bal 200.000 3.050 3 250.000 0 End. Bal 898.950 End Bal 55.000 Work in Process Manufacturing Overhead Beg Bal 31,000 870.000 0 Beg. Ball 5 82 100 (X 5 376,250 0 235 000 100.000 0 280,000 64,000 0 376.260 81.600 85,600 End. Ba 62 260 End Bal 6.060Dacosta Corporation had only onejob in process on May I. Thejoh had been charged with $2.950 ofdirect materials. $0.990 of direct laloor. and $10.1?4 of manufacturing overhead cost The company assigns overhead cost tojolos using the predetermined overhead late of $20.10 per direct labor-hour. During May. the following activityI Iwas recorded: Raw materials (all direct materials]: Beginning balance 5 9,350 Purchased during the month $33,350 Used in production $40,150 Labor: Direct laborhours worked during the month 2,350 Direct labor cost incurred $25,360 Actual manufacturing overhead costs incurred $34,150 Inventories: Raw materials, May 39 P Work in process, May 30 $13,158 Work in process inventory on May 30 contains $3.394 ofdirect labor cost Raw materials consist solely ofitems that are classied as direct materials. The cost ofgoods manufactured for May was: Froya Falorilclcer MS of Bergen. Norway. is a small compa ny that manufactures specialty heavy equipment for use in North Sea oil elds. The company uses a job-order costing system that applies manufacturing overhead cost to jobs on the basis ofdirect la bor- hours. Its predetermined overhead late was based on a cost formula that estimated $350000 ofma ntrfactu ring overhead for an estimated allocation base of 1.000 direct laborhours. The following transactions tool: place during the year a. Raw materials purchased on account. $250000. tn. Raw materials used in production {all direct materials}. $235.000. c. Utility hills incurred on account. 9509.000 [90% related to factory operations. and the remainder related to selling and administrative activities}. d. Accrued salary and wage costs: L'Iirect labor (Lars. hours) $233,333 Indirect lat-or $- 100,m0 Selling and administrative salaries 1': 160,000 e. Maintenance costs incurred on account in the factory. $64000 f. Advertising costs incurred on account. $146,000. g. Depreciation was recorded for the year. $32,000 U596 related to factory equipment. and the remainder related to selling and administrative equipment}. h. Rental cost incurred on account. $101000 [80% related to factory facilities. and the remainder related to selling and administrative facilities}. i. Manufacturing overhead cost was applied tojohs. $ '? . j. Cost of goods manufactured for the year. $Eli'0.000. k. Sales for the year [all on account] totaled $1.?00.000. These goods cost $900000 aocording to theirjob cost sheets. The balances in the inventory accounts at the beginning ofthe year were. Raw l-'aterials $ 40,000 Hort in Process $ 51,\" Finished ocds $ ?0,090