i have posted partial answer .plz check and post the correct one.

Transcribed image text: A B D H 1 Corkster is a small Burlington manufacturer using job order costing. Corkster uses direct labour hours to apply manufacturing overhead.. At the beginning of the year, manufacturing overhead was estimated to be $144,000 and direct labour hours used were estimated to be 12,000. The average hourly rate paid to manufacturing employees was $18. Actual manufacturing overhead for the year was $120,000. Actual direct labour hours used were 13,000. 3 Required: 4 Part 1: Calculate the predetermined overhead rate for the year. (3 marks) 2 5 6 7 8 9 Direct labour hours $12,000 Estimated manufacturing overhead 144,000 Predetermined overhead rute $12.00 10 Part 2: Job Z is one of the jobs that was worked on during the year. The details from the job cost sheet are shown below: 13 JOB COST SHEET Job Z Direct materials Direct labour Manufacturing overhead $2,900 $3,600 S? 16 Compute the amount of overhead applied to Job ( marks) 10 Predetermined overhead rate Actual direct labour hours Shell Now $12 $13,000 F G D E A 13 B Direct materials Direct labour Manufacturing overhead 14 $2,900 $3,600 $? 15 16 17 18 19 a. Compute the amount of overhead applied to Job Z. (3 marks) Predetermined overhead rate Actual direct labour hours $12 $13,000 156000 20 21 22 23 24 Manufacturing overhead applied b. Compute the total cost of Job Z. (1 mark) 25 26 27 28 29 80 31 32 33 34 35 Total cost of Job Z c. Assume that Job 2 was completed but not yet sold by the end of July, Prepare the necessary journal entry. (1 mark) Debit Credit Sheet1 Now B D E F H G 16 a. Compute the amount of overhead applied to Job Z. (3 marks) Predetermined overhead rate Actual direct labour hours $12 $13,000 156000 Manufacturing overhead applied 18 19 20 21 22 23 24 25 26 27 28 29 30 31 b. Compute the total cost of Job Z. (1 mark) Total cost of Job Z c. Assume that Job Zwas completed but not yet sold by the end of July. Prepare the necessary Journal entry. (1 mark) 33 Debit Credit 35 36 38 Denna thin Incalentit rreth Sheet1 New anche dalled for the Ice 15 A c. Assume that Job Zwas completed but not yet sold by the end of July. Prepare the necessary journal entry. (1 mark) Debit Credit . 5 2 B 3 Part 3: Prepare the journal entry to record the manufacturing overhead applied for the year. (5 marks) 0 1 12 13 Manufacturing overhead applied Debit Credit 45 46 47 49 49 50 Part 4: Assume that the applied manufacturing overhead for the year, distributed to the following accounts in the amounts indicated: 51 52 Overhead Applied ann Wielinen nimith Sheet1 Now 49 50 Part 4: Assume that the applied manufacturing overhead for the year, distributed to the following accounts in the amounts indicated: 51 52 53 54 55 56 Overhead Applied Work in process inventory, end of the year $30,000 Finished goods inventory, end of the year $50,000 Cost of goods sold ? a. Prepare the journal entry to close over or under-applied overhead assuming the company does not allocate over or under-appl overhead. (4 marks) 57 58 59 60 61 Debit Credit 63 64 65 b. Assume the company follows IAS 2. Would the journal entry in part a change? (1 mark) 68 69 Yes D G H 61 62 63 64 65 Debit Credit 66 67 68 69 b. Assume the company follows IAS 2. Would the journal entry in part a change? (1 mark) Yes 70 71 72 73 c. Why or why not? Explain (2 marks)