Activity #3 - COGM/COGS and Overhead Variance (LO#2, #3, #4, #5) The following account balances at the beginning of August were selected from the general ledger of Noah Manufacturing Company: Work in process inventory $0 Raw materials inventory $26,000 Finished goods inventory $46,000 Additional data: 1) Total direct labor cost for August was $57,000. 2) The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $300,000 of direct labor cost and $360,000 of manufacturing overhead costs. 3) The only job unfinished on August 31 was Job No. 1002, for which total direct labor charges were $6,300 (800 direct labor hours) and total direct material charges were $12.000. 4) Cost of direct materials placed in producti Text Highlight Color taled $101,000. There were no indirect material requisitions during August. 5) August 31 balance in raw materials inventory was $32,000. 6) Finished goods inventory balance on August 31 was $34,500. 7) Actual manufacturing overhead for August amounted to $62,000 (Don't know this until after end of period) a. What is the predetermined manufacturing overhead rate? b. What is the amount of materials purchased during August? Raw Materials RM Used BB Purch EB c. What is the cost of goods manufactured for August? WIP BB COGM RM used DL MOH EB d What is the cost of ads sold for Auqust before adiustment of verhunder anplied overhead2 d. What is the cost of goods sold for August before adjustment of over/under applied overhead? FG COGS BB COGM EB e. Has manufacturing overhead been overallocated or underallocated and by what amount as of August 31? f. Calculate the adjusted cost of goods sold (assuming OH variance is closed to COGS)