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4) At the end of June, job cost sheets for Kennedy Manufacturing show the following total costs aceumulated on three custom Lishe. Job 203 was

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4) At the end of June, job cost sheets for Kennedy Manufacturing show the following total costs aceumulated on three custom Lishe. Job 203 was started in production in May and the following costs were assigned to it in May: direct materials, \$12,000; direct labor, \$6,000; and overbead \$8,700, Jobs 204 and 205 are started in June. Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 203 and 204 are finished in June, and Job 205 will be finished in Jaly. No raw materials are used indireetly in June. Using this information, answer the following questions assaming the company's predetermined overhead rate did not change. a. What is the total cost of direct materials requisitioned in June for the three jobs? b. What is the total direct labor cost incurred during June for the three jobs? c. What predetermined overhead rate is used daring June? d. How much total cost is transferred to finished goods during June? Annum Company uses a predetermined overhead rate of I50\% of direct labor cost. Prepare journal entries for the following transactions and events. (a) Purchase of raw materials on credit. (b) Assignment of materials costs to Work in Process lnventory and Factory Overhead. (c) Assignment of factory payroll to Work in Process Inventory and Factory Overhead. (d) Recording of other factory overhead. Assume that all items other than depreciation are paid in cash. (c) Apply factory overhead to Work in Process Inventory. (f) Transfer of goods completed to Finished Goods Inventory. (g) Recording cost of goods sold. (h) Assignment of over- or underapplied overhead to Cost of Goods Sold

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