ACC202 Review sheet Estimated annual overhead cost $1,000,000 Estimated machine hours 200,000 Actual machine hours 224,000 Actual overhead cost $1000,000 1,330,000 Traditional Method (A) Compute the Predetermined Overhead rate. Show your Work! 1,000,000 5 200.000 - (B) Compute the applied overhead and the under-or over-applied overhead for the period. Show your work! 224,000 X 5 =1, 120,000 (C) Compute the under-or over-applied overhead for the period. Show your work! MO 1350100 0 19,00 (D) Prepare the journal entries to close the under-applied or over-applied overhead COGS 10,000 mo TOLOP Beginning Ending Raw materials inventory $10,000 $15,000 Work-in-process inventory 45,000 55,000 Finished goods inventory 10,000 15,000 Raw materials purchased $50,000 Direct labor costs 80,000 Manufacturing Overhead (Applied ) 30,000 Selling and administrative costs 60,000 Calculate COS A. Calculate the cost of raw materials used in production B. Calculate the total current manufacturing costs assuming that raw materials are used as direct materials C. Calculate cost of goods manufactured D. Calculate unadjusted cost of goods sold