Haha, Corp. uses job costing system for its products. The following information relates to the month of November: Material: Others: Inventories, Nov 1, Balances: Building occupancy costs: Raw Material 21,000 Factory Facilities 25,600 Work in Process (Job 57) ** 78,000 Sales offices 6,400 Purchases of raw materials in Administration offices November 270,000 8,000 Usage of indirect material in Total November 64,000 40,000 ** Proportion of MOH is 25% Labor: Direct labor wages Indirect labor wages 16,400 Others (continued): Production equipment 528,000 costs: 125,000 Power Repairs and maintenance Depreciation Total 6,000 4,000 26,400 During November, there are three outstanding jobs: Job 57, Job 58, and Job 59. By the end of November, Job 57 is finished and sold to client, Job 58 had just finished production and moved out of the plant, Job 59 is still in production. Details on the three jobs are as follows: Job 57 Job 58 Job 59 Direct Material used $30,000 $75,000 $80,000 Direct Labor Hours 7,000 6,000 9.000 The firm's job costing system uses direct-labor hour as the cost driver for overhead application. The plant is capable of operating at 115,000 direct-labor hour per year. Budgeted manufacturing overhead (MOH) is $575,000. Required: 1. Calculate the predetermined overhead rate for the year (2%) 2. Calculate total overhead applied in November (2%) 3. Calculate the total cost of Jobs: 57,58, and 59 (7.5%) [hint: calculate direct labor cost per hour] 4. Compute actual manufacturing overhead cost incurred in November (2.5%) 5. Compute the over/underapplied overhead in November (1%) 6. Prepare the journal entries for the following transaction in November a. Purchase of raw material on account (1%) b. Usage of raw material (including for the indirect materials) (2%) c. Payment of labor in cash (including for the indirect labor) (2%) d. Application of MOH in production (2%) c. Recognition of other actual MOH (1%) f. Transfer of Job 57 and Job 58 to Finished Goods (2%) g. Proration of over/underapplied MOH to COGS, FG, and WIP based on the balance of overhead in each of the accounts (5%)