Exercise G Refer to the previous exercise. Assume the actual hours and cost data were: Actual Manufacturing overhead $450,000 $40o,000 $375,000 Direct labor cost Paper Rock Scissors $850,000 $700,000 $400,000 45,000 46,000 105,000 200,000 130,000 irect labor-hour 38,000 Machine-hours 1. 2. Compute overapplied or underapplied overhead for each company. Prepare journal entries to transfer overapplied or underapplied overhead to Cost of Goods Sold for each company. Added Exercise 106 107 108 Total Beg. Work in Process Inventory 5,400 17,386 5,422 10,844 7,800 28,200 15,280 6,230 12,460 5,740 13,200 60,866 14,522 29,044 Direct Materials Direct Labor 2,870 Applied Overhead (Labor Cost x S2 per labor cost) (5422xS21 16,230 S2) 12.870 x S2) Total Job Cost Job Status: 39,052 54.690 23.890 Sold Finished In Process Identify which job makes up the Work in Process inventory and what is the total amount? Identify which job makes up the Finished Goods Inventory and what is the total amount? Identify which job makes up Cost of Goods Sold and what is the total amount? Exercise G Refer to the previous exercise. Assume the actual hours and cost data were: Actual Manufacturing overhead $450,000 $40o,000 $375,000 Direct labor cost Paper Rock Scissors $850,000 $700,000 $400,000 45,000 46,000 105,000 200,000 130,000 irect labor-hour 38,000 Machine-hours 1. 2. Compute overapplied or underapplied overhead for each company. Prepare journal entries to transfer overapplied or underapplied overhead to Cost of Goods Sold for each company. Added Exercise 106 107 108 Total Beg. Work in Process Inventory 5,400 17,386 5,422 10,844 7,800 28,200 15,280 6,230 12,460 5,740 13,200 60,866 14,522 29,044 Direct Materials Direct Labor 2,870 Applied Overhead (Labor Cost x S2 per labor cost) (5422xS21 16,230 S2) 12.870 x S2) Total Job Cost Job Status: 39,052 54.690 23.890 Sold Finished In Process Identify which job makes up the Work in Process inventory and what is the total amount? Identify which job makes up the Finished Goods Inventory and what is the total amount? Identify which job makes up Cost of Goods Sold and what is the total amount