Answer question 2-4

During the current month, Tomlin Company incurs the following manufacturing costs. (a) Purchased raw materials of $16,000 on account. (b) Incurred factors labor of $40,000. Of that amount, $31,000 relates to wages payable and $9,000 relates to payroll taxes payable. (c) Factory utilities of $3, 100 are payable, prepaid factory property taxes of $2, 400 have expired, and depreciation on the factory building is $9, 500. Prepare journal entries for each type of manufacturing cost. (Use a summary entry to record manufacturing overhead.) Milner Company is working on two job orders. The job cost sheets show the following. Prepare the three summary entries to record the assignment of costs to Work in Process from the data on the job cost sheets. During the current month, Reyes Corporation completed Job 310 and Job 312. Job 310 cost $60,000 and Job 312 cost $50,000. Job 312 was sold on account for $90,000. Journalize the entries for the completion of the two jobs and the sale of Job 312. For Eckstein Company, the predetermined overhead rate is 130% of direct labor cost. During the month, Eckstein incurred $100,000 of factory labor costs, of which $85,000 is direct labor and $15,000 is indirect labor. Actual overhead incurred was $115,000. Compute the amount of manufacturing overhead applied during the month. Determine the amount of under- or overapplied manufacturing overhead