Company uses job order costing system. The company has two producing departments (Processing and Assembly) and three service departments (Maintenance, Personnel and Power).The company uses Direct Method to allocate overhead costs of service departments to producing departments. Budgeted overhead and other budgeted data for the year of 2020 were as follows

Maintenance Personnel Power Processing Assembly

Overhead 9.000 4.000 12.000 50.000 24.000

Maintenance hours - - 14 200 50

Number of employee 5 4 - 30 120

KWh 75 80 - 1.200 400

Machine hours - - - 13.400 1.200

Direct labor hours - - - 1.500 8.000

Overhead is applied on the basis of machine hours in Processing department and on the basis of direct labor hours in Assembly department. Beginning balances of inventories on January 1

Finished Goods 500.000 $

Job 100

During January, actual production and cost data are as follows

a. The company started a new job (Job 101) in January. Actual working hours for the job were as follows

ProcessingAssembly

(Machine hours)(Direct labor hours)

Job 101 7.4007.000

b. Costs

Job 101

Direct material cost 245.000 $

Direct labor cost 120.000 $

c. Actual overhead 62.000 $

d. Job 100 was sold at cost plus 0,20 mark up

e. Job 101 was completed and transferred to warehouse

1. Calculate over (under) applied overhead
2. Calculate cost of finished goods inventory on January 31