Applying Over head: Computing Unit Product cost [LO2, LO3] A company assigns overhead cost to completed jobs on the basis of 120% of direct labor cost. The job cost sheet for job 413 shows that $ 12,000 in direct materials has been used on the job and that in direct labor cost has been incurred. A total of 200 units were produced in job 413. Required: What is the total manufacturing cost assigned to job 413? what is the unit product cost for job 413? Journal Entries and T-Accounts[LO2, LO4,LO5] Foley Company uses a job- order costing system. first month of the company's fiscal year: Raw materials purchased on account,$ . Raw materials issued to production, $ (80% direct and 20% indirect). Direct labor cost incurred, $ ; and indirect labor cost incurred, $ . Depreciation recorded on factory equipment,$ . Other manufacturing overhead costs incurred during October, $ (credit Accounts Payable). The company applies manufacturing overhead cost to production on the basis of $4 per machine-hour. A total of 75,000 machine-hours were recorded for October. Production orders costing $ according to their job cost sheets were completed during October and transferred to Finished Goods. Production orders that had cost $ 450,000 to complete according to their job cost sheets were shipped to customers during the month. These goods were sold on account at 50% above cost. Required: Prepare journal entries to record the information given above. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant information above to each account. Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $35,000. Computing Predetermined Overhead Rates and job Costs [L0l,L02,L03,L07] Kody Corporation uses a job-order costing system with a plantwide overhead rate based on machine-hours, At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Required: Compute the predetermined overhead rate. During the year Job 500 was started and completed. The following information was available with respect to this job