4. Noyaland Designs Ltd is in the business of designing and manufacturing furniture according to customized orders. As such, Novaland Designs uses a normal job order costing system to determine their product cost. Designers are paid the hourly rate of $55. The skilled carpenters employed to assemble the furniture are paid $75 per hour. Machines and equipment are utilized to cut, trim and polish the materials used. Therefore, manufacturing overhead ("MOH\") is applied using the number of machine hours. For 202K, the company budgeted MOH to be $1,200,000 and estimated the number of machine hours required for production to be 3,000 hours. Noyaland Designs' policy is to close the over or under-applied MOH to Cost of Goods Sold at the end of each quarter. The ledger balances for the company as at Nov 30, 202): are shown beiow. The balance in the work in process account comprises only of the amount paid to designers for Job #4. Cost of Goods Sold Finished Goods (Job #3) 168,000 237,500 - Work in Process Saies MOH Adminstrative 8.: Selling 420,000 135,000 120,000 EXpenses Two jobs were processed in Dec, 202x. The table below show records relating to resources utilized for processing the two jobs in Dec. Direct Material Costs Designer Hours Carpenter Hours Machine Hours