Can you also showing the specific workings please for better understanding of what is being done? That would be much appreciated.

Question 2 Craftsman manufactures customized household furnishings. The company uses a perpetual inventory system and has a highly labour intensive production process, so it assigns manufacturing overhead based on direct labour cost. Craftsman predetermined overhead application rate for 2012 was computed from the following data: Total estimated factory overhead $480,000 Total estimated direct labour cost $800,000 The following events occurred during May 2012. i) Purchased materials on account, $405,000 ii) Incurred manufacturing wages of $111,600 iii) Requisitioned direct materials and used direct labour in manufacturing iv) Issued indirect materials to production, $6,600 v) Charged indirect manufacturing wages to production, $27,900 vi) Other manufacturing overhead costs incurred on units 101 to 104 amounted to $29,800 vii) Allocated overheads to jobs at the predetermined rate viii) Units completed: 101,103&104 ix) Sold units 101 \& 104 (billed customers at a mark-up of 45% on cost) Required: (a) Compute Craftsman's predetermined manufacturing overhead rate for 2012. (b) State the journal entries necessary to record the above transactions in the general journal. (c) Calculate the manufacturing overhead variance for Craftsman and state the journal entries necessary to dispose of the variance. (d) What is balance on the Cost of Goods Sold account after the adjustment (e) Open T-accounts for Work in Process Inventory and Finished Goods Inventory. Post the appropriate entries to these accounts, identifying each entry by number. Determine the ending balances, assuming that the beginning balances were zero