2 Required: 1. Calculate the activity rates for the following three. 2. Using the rates from requirement 1, calculate the MOH from the actual activity below. Activity Estimated Cost Estimated Activity Board Etching $80,000 4,000 Boards General Factory $200,000 20,000 Machine Hours Relay Assembly $5,000 1,000 Relays Actual Activity 300 Boards 1,000 Machine Hours 400 Relays Problem 1 a) b) Required: Record the following transactions in the "T" accounts provided. Purchased raw materials on account, $300,000. $250,000 in raw materials were requisitioned for use in production. Of this amount, $230,000 was for direct materials and the remainder was for indirect materials. c) Factory payroll incurred, $70,000; $60,000 was direct labor and the remainder was indirect labor. d) Recorded depreciation expense on factory equipment, $4,000 and other manufacturing overhead costs were $30,000. Manufacturing overhead costs of $45,000 were applied to jobs. e) f) Cost of completed production for the month, $290,000. R) Cost of finished goods sold, $260,000