B Company, which began operations on January 1 of the current year, reported the following information: Estimated manufacturing overhead Actual manufacturing overhead Estimated direct labor cost Actual direct labor cost Total debits in the Work-In-Process account Total credits in the Finished Goods account $600,000 639,000 480,000 500,000 1,880,000 920,000 B Company uses a normal cost system and applies manufacturing overhead to jobs on the basis of direct labor cost. A 60% markup is added to the cost of completed production when finished goods are sold. On December 31, job no. 18 was the only job that remained in production. That job had direct-material and direct-labor charges of $16,500 and $36,000, respectively Determine the company's predetermined overhead rate Determine the amount of under- or overapplied overhead Compute the amount of direct materials used in production. Calculate the balance the company would report as ending work- in-process inventor)y Prepare the journal entries needed to record B Company's sales, which are all made on account. Required: a) b) c) d) e)