Aut ACCT 322 Home Insert Draw Page Layout Formulas Data Review View XLSTAT Telk Arial 12 AA P BIU- A M&C 169 xfx A D E F H T estion 1 (43 minutes, 27 marks) legiance Industries manufactures unique custom made camping trailers. At the start of most recent face the company's inventory balances were as follows Work-in-process Fisted goods $46.000 $168,000 $212,000 company applies overhead cost to jobs on the basis of machine hours worked For the year 2021, the 10pany estimated that it would work 40.000 direct labour hours and 80,000 machine-hours and inar 110.000 in manufacturing overhead cost The blowing transections were recorded in 202 12 14 15 Of the taw materials that were issued into production 80% were drew and 20% w 18 Costs for employee services were as followe 21 22 23 Factory maintenance $975.000 $312,000 $246.000 24 27 Property tax expense during the year was S.000 or $53.000ed to the speration of the betry Uses cost for the year was $188,000 or 5% the operation of the factory and the 30 21 32 Deprecation recorted for the year was $220.000 80% try 33 34 35 Job costing $280,000 were sold during the year for $4200.000 37 38 Manufacing heads applied to produce based on machine hours. Due to higher than esc Tie : ! @ 2 2 Q * " Quest M 90 $ 54 #3 E R MacBoo % 5 ^ 6 T 14 AutoSave 892-0 ACCT 322 Home Insert Draw Page Layout Formulas Data Review View XLSTAT Tel Aral 12 AA topex- 1- 169 : xfx A B 0 M 44 Other information 45 The corporate income 20 46 The predetermined overhead application rate has remained the same for the past two years 47 The al direct labour rate of $25 per hour had the same for the past two years 4 49 50 51 The ending work in process inventory on December 31, 2021 osed of 25 Direct meals of $45.000, 1800 actual direct labour hours and 7000 actual machine hours had been incumed on this jok 52 Required 53 67 30 Calculate th MOH (1) Actual DL hours (mk) Applied MOH (mak Ending work in process inventory mark " 122 2021 ansactions ning the opening and doing an in the wing Taccounts (16) 73) a) Raw Materials 74 25 b) Work in process 26 Fished Goods 77 40 Manufacturing Overhead Cost of Goods S Operating expe Work in Process Queston F Q3 Q Twe Question 1 Sect destination and press ENTER or shoe Pale esc i 1 NO @ 2 Q * 80 72 " " M #3 LLI E $ 4 % 5 MacBo R T 66 " Auto ACCT Home Insert Draw Page Layout Formulas Data Review View XLSTAT Q X Arial 12 AA - Paste d BIU- .A. 383 RED Merge & Center 169 xvfx A B D E F H 12 713 1143 Prepare the joumal entry to adjust any under or over applied overhead according to intemational 115 Accounting Standard 2 and post it to the respective T-Accounts (6 marks) $17 118 119 120 121 122 120 127 126 129 130 131 132 133 134 155 136 137 138 140 141 542 143 146 145 146 147 148 140 150 155 Title Question Quest Sect destron and pods ENTER the P Q3 * * esc F1 F2 80 F3 14 FL # Ma