Exercise 6 JoJo Co. had the following balances and information for October. Beg. finished goods inventory = $54 Beg. work in process inventory = $9 Beg. raw materials inventory = $27 End. finished goods inventory = $27 End. Work in process inventory = $18 End. raw materials inventory = $45 Raw material purchases = $180 Factory wages paid = $270 Indirect materials = $18 Indirect labor = $63 Other overhead costs = $162 Sales = $990 Predetermined overhead rate = 200% direct materials 162 144 X X a) Cost of raw materials used equals: b) Cost of direct materials equals (RM - Ind Materials): c) Cost of direct labor equals (Factory wage - Ind Labor): d) Manufacturing overhead applied equals: e) Total manufacturing costs equal: f) Cost of goods manufactured equals: g) Cost of goods sold* equals: h) Gross profit equals: Don't worry about over or underapplied overhead X X X X Exercise 7 At the beginning of 2017, YourCo. estimated total manufacturing overhead costs for the year of $1820 and that direct labor costs would total $4550. X X a) What is the predetermined overhead rate for 201X if YourCo uses DL as its allocation base? (Calc and then enter answer.) b) Job 103 had $280 direct labor. How much overhead was applied to it? c) During 2017, Your Co's actual overhead incurred totalled $2184 and actual direct labor costs were $4095. Was factory overhead under or over applied? d) What is the amount of under or over applied factory overhead based on the data from partc? X