10 pts Question 4 Lund Company applies manufacturing overhead to jobs using a predetermined overhead rate of 75% of direct labor cost. Any underapplied or overapplied manufacturing overhead cost is closed out to Cost of Goods Sold at the end of the month. During March, the following transactions were recorded by the company: $27,000 S28.000 Raw materials (all direct materials): Purchased during the month... used in production...... Labor: Direct labor hours worked during the month..... Direct labor cost incurred...... Indirect labor cest incurred Manufacturing overhead costs incurred (total)..... Inventories: Raw materials (all direct), March 31................. Work in process, March 1 Work in process, March 31 "contains 55,000 in direct labor cost. 2.500 $20,000 55,500 $17,000 $7,500 S10.500 $14,000 The Cost of Goods Manufactured for March was: Question 4 Lund Company applies manufacturing overhead to jobs using a predetermined overhead rate of 75% of direct labor cost. Any underapplied or overapplied manufacturing overhead cost is closed out to Cost of Goods Sold at the end of the month. During March, the following transactions were recorded by the company: Raw materials (all direct materials): Purchased during the month.... Used in production. Labor: Direct labor hours worked during the month..... Direct labor cost incurred.. Indirect labor cost incurred Manufacturing overhead costs incurred (total)... Inventories: Raw materials (all direct), March 31 Work in process, March 1 Work in process, March 31 "contains 5,000 in direct labor cost. S27,000 $28,000 2,500 $20,000 55,500 $17,000 $7,500 S10,500 $14,000 The Cost of Goods Manufactured for March was B TUA A- IE * x