Could you please help me with question 3,4 and 5

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Question 2: Job order costing Complete Brass Corporation manufactures brass musical instruments for use by high school students. The company uses a normal costing system, in which manufacturing overhead is applied on the basis of direct-labour hours. The company's budget for the current year included the following predictions. Budgeted total manufacturing overhead $246, 300 Budgeted total direct-labour hours (based on practical capacity) 20, 300 During March, the firm worked on the following two production jobs: Job number T81, consisting of 76 trombones Job number C40, consisting of 110 cornets The events of March are described as follows: a. One thousand square feed to rolled brass sheet metal were purchased on account for $5,000. b. Four hundred pounds of brass tubing were purchased on account for $4,000. c. The following requisitions were submitted on March 5: Requisition number 112:250 square feet of brass sheet metal at $5 per square feet (for job T81) Requisition number 113: 1000 pounds of brass tubing, at $10 per pound (for job C40) Requisition number 114: 10 gallons of valve lubricant, at $10 per gallon All brass used in production is treated as direct material. Valve lubricant is an indirect material. d. An analysis of labour timecards revealed that following labour usage for March. Direct labour: Job number T81, 800 hours at $20 per hour Direct labour: Job number C40, 900 hours at $20 per hour Indirect labour: General factory clean-up, $4,000 Tactory clean-up, Indirect labour: Factory supervisory salaries, $9,000 e. Depreciation of the factory building and equipment during March amounted to $12,000. f. Rent paid in cash for warehouse space used during March was $1,200. g. Utility costs incurred during March amounted to $2,100. The invoices for these costs were received, but the bills were not paid in March. h. March property taxes on the factory were paid in cash, 82, 400. i. The insurance cost covering factory operations for the month of March was S3, 100. The insurance policy had been prepaid. MAF 200116- Session 2, 2020 Group assignment Page 3 of 11 I j. The costs of salaries and fringe benefits for sales and administrative personnel paid in cash during March amounted to $8,000. k. Depreciation on administrative office equipment and space amounted to $4,000. 1. Other selling and administrative expenses paid in cash during March amounted to $1,000. m. Job number T81 was completed on March 20. n. Half of the trombones in job number T81 was sold on account during March for $700 each. The March 1 balances in selected accounts are as follows: Cash $10,000 Accounts Receivable 21,000 DINA 000 j. The costs of salaries and fringe benefits for sales and administrative personnel paid in cash during March amounted to $8,000. k. Depreciation on administrative office equipment and space amounted to $4,000. 1. Other selling and administrative expenses paid in cash during March amounted to $1,000. m. Job number T81 was completed on March 20. n. Half of the trombones in job number T81 was sold on account during March for $700 each. The March 1 balances in selected accounts are as follows: Cash Accounts Receivable Prepaid Insurance Raw-Material Inventory Manufacturing Supplies Inventory Work-in-Process Inventory Finished-Goods Inventory Accumulated Depreciation: Buildings and Equipment Accounts Payable Wages Payable $10,000 21, 000 5,000 149,000 500 91, 000 220,000 102,000 13,000 8, 000 Required: 1. Calculate the company's predetermined overhead rate for the year. 2. Prepare journal entries to record the events of March. 3. Calculate the overapplied or underapplied overhead for March and prepare a journal entry to close the balance into Cost of Goods Sold. 4. Prepare a schedule of cost of goods manufactured for March. 5. Prepare a schedule of cost of goods sold for March. Predetermined Overhead Rate = budgeted fixed overheads budgeted labour hours 246,300 = $12 per hour 20,300 2. Journal entries for Scholastic Brass Corporation for the month of March + Date Credit a. Particulars Raw Material Inventory Accounts Payable Debit $5,000 $5,000 b. Raw Material Inventory Accounts Payable $4,000 $4,000 C. (1) Work in Process Inventory Raw Material Inventory $11,250 $11,250 I c. (2) Manufacturing overheads - Supplies Inventory Indirect Material $100 $100 Direct Material Cost: Brass sheet metal (250sq.ft * $5) = $1,250 Brass Tubing cost (1000pounds * $10) = $10,000 Total direct material cost = $11,250 Indirect Material Cost: Valve lubricant cost (10gallons * $ 10) = $100 Total Indirect Material Cost = $100 d. (1) Work in Process - Direct labour Manufacturing overheads - Indirect labour Wages Payable $34,000 $13,000 $47,000 Direct Labour = ($20 * 800hrs) + ($20 * 900hrs) = $34,000 Indirect Labour = $4,000 + $9,000 = $13,000 d. (2) Work in Process Manufacturing Overheads - applied $20,400 $20,400 Applied O/H = 1,700hrs. 12 - $20,400 e. $12,000 Manufacturing Overheads Accumulated depreciation - Factory building and equipment $12,000 f. Manufacturing Overheads - rent expense Cash at bank $1,200 $1,200 + 8 Manufacturing Overheads - Utility expense Accounts Payable $2,100 $2,100 h. Manufacturing Overheads - Tax expense Cash at bank $2,400 $2,400 i. Manufacturing Overheads - Insurance expense Prepaid Insurance $3,100 $3,100 i. Selling and Administrative expense Cash at bank $8,000 $8,000 f. Manufacturing Overheads - rent expense Cash at bank $1,200 $1,200 g. Manufacturing Overheads - Utility expense Accounts Payable $2,100 $2,100 h. Manufacturing Overheads - Tax expense Cash at bank $2,400 $2,400 i. Manufacturing Overheads - Insurance expense Prepaid Insurance $3,100 $3,100 j. Selling and Administrative expense Cash at bank $8,000 $8,000 k. $4,000 Selling and Administrative expense Accumulated depreciation - administrative equipment $4,000 $1,000 Selling and Administrative expense Cash at bank $1,000 m. $26,850 Finished goods Inventory - Job T81 Work in process Inventory $1,250 + ($800*$20) + (800*12) = $26,850 n. (1) $26,600 Accounts Receivable Sales Revenue - Job T81 $26,600 76 2 Sales Unit (half of trombones price per unit) $700 = $26,600 n. (2) Cost of Good Sold Finished Goods - Job T81 $13,425 $13,425 76 Sales unit: - 38 2 $26,850 Cost per unit - 76 38 = $13,425