Direct material costs Direct labor-hours Job MC-270 $ 270,600 2,538 hours Job MC-275 $495,600 3,230 hours During year 3, O'Leary incurred the following direct material costs and direct labor-hours for all jobs worked in year 3, including the completion of Job MC-275. Direct material costs Direct labor-hours Actual manufacturing overhead $11,840,600 74,600 $ 9, 264, eee At the end of year 3, there were four jobs that had not yet shipped. Data on these jobs follow. Direct materials Direct labor-hours Job status MC-389 $43,880 1,746 hours Finished MC-390 $67,600 2,730 hours Finished MC-397 $184, 188 6,130 hours In progress MC-399 $29,500 1,330 hours In progress Required: a. What was the amount in the beginning Finished Goods and beginning Work-In-Process accounts for year 3? b. O'Leary Incurred direct materials costs of $57,600 and used an additional 360 hours In year 3 to complete job MC-275. What was the final (total) cost charged to job MC-275? c. What was over- or underapplied overhead for year 3? d. O'Leary prorates any over- or underapplied overhead to cost of Goods Sold, Finished Goods Inventory, and Work-in-Process Inventory. Prepare the journal entry to prorate the over- or underapplied overhead. e. A customer has asked O'Leary to bid on a job to be completed in year 4. O'Leary estimates that the job will require about $92,800 In direct materials and 5,030 direct labor-hours. Because of the economy, O'Leary expects demand for its services to be low in year 4, and the CEO wants to bid aggressively, but does not want to lose any money on the project. O'Leary estimates that there would be virtually no sales or administrative costs associated with this job. What is the minimum amount O'Leary can bid on the job and still not Incur a loss? Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Required E What was the amount in the beginning Finished Goods and beginning Work-in-Process accounts for year 3? Work-in-process inventory Finished goods inventory