HI. May I please get guidance for the following Homework Practice Exercises? Your time and help is greatly appreciated.

Question 4:

Langdon Company manufactures custom designed toy sailboats. The company uses a job order costing system. Overhead is applied based on direct labor hours. Estimated overhead for 2021 is $11,840 and the company estimates it will use 7,400 direct labor hours. The following events occurred in March.

The company purchased materials for $800 on account.

The production supervisor requisitioned 15 sheets of fiberglass for constructing the boats. The fiberglass was in stock and originally cost $3 a sheet.

Direct labor on the boats cost $500.

More materials were purchased for $350 on account.

Indirect labor costs were $210.

A utility bill for the boat factory was $230 and was paid in cash.

Additional materials were placed into production that cost $215.

Manufacturing overhead was applied (direct labor during March totaled 500 hours)

One sailboat was completed which cost $325.

The completed sailboat was sold for $750.

Show all calculations. Hint - you might find it easiest to prepare journal entries or T-accounts to account for the transactions above.

a)Determine the overhead application rate.

b)What is the balance in Materials Inventory at March 31?

c)What is the balance in Work in Process Inventory at March 31?

d)The general manager asks you why the company needed to calculate an overhead application rate?She wonders, won't the department keep track of overhead costs?Isn't THAT the overhead to use?Explain to her the accounting for overhead.

Question 5:

Burgandy Corporation makes plastic and wooden picture frames. The company has assigned $107,000 in monthly manufacturing overhead costs to two cost pools as follows: $67,000 to power costs, and $40,000 to production set-up costs. Additional monthly data are provided below:

Plastic Wooden Frames Frames Sales revenue $254,000 $179,000 Direct materials $101,000 $38,360 Direct labor $53,360 $92,720 Machine hours 107,420 7,580 Production runs 65 35 Units produced and sold 59,000 29,000