2.

Soved Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of nuchine hours For the upcoming year, the company estimated its total manufacturing overhead cost at $243.360 and total machine hours at 62.400 Durung the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost direct fabor cost, and machine hours for each job: JoD 102 was completed but not sol 351,400 Job 103 is still in process. Actual overhead costs recorded during the first month of operations totaled $19,660 Required: 1. Calculate the predetermined overhead rate. Note: Round your answer to 2 decimal ploces. 2. Compute the total manufacturing overhead applied to the Work in Process Inventory account during the first month of operations Note: Round your intermediate calculations to 2 decimal ploces. 3. Compute the balance in the Work in Process Inventory account at the end of the first month Note: Round your intermediate calculations to 2 decimal places. 4. How much gross profit would the company report during the first month of operations before making an adjustment for over. of underapplied manufacturing overhead? Note: Round your intermediate calculations to 2 decimal places. 5-a. Determine the balance in the Manufocturing Overhead account ot the end of the first month Note: Round your intermediate calculations to 2 decimal places. 5-b. Is it over-or underapplied? 5 -b. Is it over-or underapplied