Job $101$ Job $102$ Job $103$ Total

Direct materials used $ $10,300$ $ $8,000$ $ $4,900$ $ $23,200$

Direct labor $ $17,600$ $ $6,100$ $ $5,700$ $ $29,400$

Machine hours $1,200$ hours $2,500$ hours $500$ hours $4,200$ hours

Job $101$ was completed and sold for $$51,900.$

Job $102$ was completed but not sold.

Job $103$ is still in process.

Actual overhead costs recorded during the first month of operations totaled $$13,600.$

Required:

$1.$ Calculate the predetermined overhead rate.

Note: Round your answer to $2$ decimal places.

$2.$ Compute the total manufacturing overhead applied to the Work in Process Inventory account during the first month of operations.

Note: Round your intermediate calculations to $2$ decimal places.

$3.$ Compute the balance in the Work in Process Inventory account at the end of the first month.

Note: Round your intermediate calculations to $2$ decimal places.

$4.$ How much gross profit would the company report during the first month of operations before making an adjustment for over$-$ or underapplied manufacturing overhead?

Note: Round your intermediate calculations to $2$ decimal places.

$5-$a$.$ Determine the balance in the Manufacturing Overhead account at the end of the first month.

Note: Round your intermediate calculations to $2$ decimal places.

$5-$b$.$ Is it over$-$ or underapplied?

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