3. xx= 56

4. xxx= 956

#3. Highland Innovative Parts Co. manufactures parts foundry and metal shop and makes everything from fenders to engine blocks. Each customer order is treat separate job. They currently have two jobs, 1523 and 1524, which are complete except for the applicatio They want to know what each job's cost would be under three different overhead application rates: ( (2) direct labor hours, and (3) machine hours. Projections for the year are as fol to order for antique automobiles. Highland has a complete ed as a ) direct labor cost, lows Direct labor cost Direct labor hours Machine hours Overhead costs (Depreciation on machinery and equipment accounts for 75% of the overhead costs.) $120,000 8,000 5,000 $ xx,000 Use the last 2 digits of your student ID Job 1523 Job 1524 Direct material Direct labor Direct labor hours Machine hours 855 1,020 85 100 $1,650 1,020 68 200 a. Determine the overhead application rate under three suggested allocation bases b. Calculate the cost of Job 1523 and Job 1524 using each of the three bases. c. Explain which allocation base appears preferable 4. The Rodeo Company produces a line of lariats. They use a normal-costing system and allocate manufacturing overhead based on direct manufacturing labor cost. The following data are for the year: Budgeted manufacturing overhead cost Budgeted direct manufacturing labor cost Actual manufacturing overhead cost Actual direct manufacturing labor cost $125,000 $250,000 $XXx,000 Use the last 3 digits of your student ID $228,000 Inventory balances on December 31 were: Account Raw Materials Work in Process Finished goods Cost of Goods Sold Ending Balance $ 25,500 $50,700 $245,050 $549,250 A. Compute the amount of under or over-applied manufacturing overhead. B. What is the journal entry to close the MOH account if the amount is immaterial? C. What is the journal entry to close the MOH account if the amount is material