Job 403 was not completed as of December 31, 2022. - The company considers under- or overallocated overhead immaterial. Place the information in T accounts and answer the following questions: a. What was the total allocated overhead during 2022 ? b. What was the cost of work in process on December 31 , 2022 ? c. What was the value of the cost of goods sold account before any adjustment for over- or underallocated overhead? d. What was the value of the cost of goods sold account after any adjustment for over- or underallocated overhead? e. Why would a company use machine hours to assign overhead in one department and direct labor dollars in another department? f. If the company sells the jobs at a 20% margin based on cost, what was the selling price of Job 401 ? 53 3. Sue Enterprises uses a normal job order costing system and a predetermined overhead rate based on machine hours. At the beginning of 2022, Sue estimated the overhead for the year would be $720,000 and that production would use 90,000 machine hours. The following information relates to the month of August, when two jobs were worked on: Sue Enterprises applied overhead based on a predetermined overhead rate. Job 125 and 126 were both completed, and Job 126 was sold at the end of the period. Record the information in the T-accounts. 7. The Moez Company uses a normal job order cost system. Other data: - There are three jobs that pass through the two production departments. - Job 401 and Job 402 were completed and sold during January. Job 403 was not completed as of December 31, 2022. - The company considers under- or overallocated overhead immaterial. Job 403 was not completed as of December 31, 2022. - The company considers under- or overallocated overhead immaterial. Place the information in T accounts and answer the following questions: a. What was the total allocated overhead during 2022 ? b. What was the cost of work in process on December 31 , 2022 ? c. What was the value of the cost of goods sold account before any adjustment for over- or underallocated overhead? d. What was the value of the cost of goods sold account after any adjustment for over- or underallocated overhead? e. Why would a company use machine hours to assign overhead in one department and direct labor dollars in another department? f. If the company sells the jobs at a 20% margin based on cost, what was the selling price of Job 401 ? 53 3. Sue Enterprises uses a normal job order costing system and a predetermined overhead rate based on machine hours. At the beginning of 2022, Sue estimated the overhead for the year would be $720,000 and that production would use 90,000 machine hours. The following information relates to the month of August, when two jobs were worked on: Sue Enterprises applied overhead based on a predetermined overhead rate. Job 125 and 126 were both completed, and Job 126 was sold at the end of the period. Record the information in the T-accounts. 7. The Moez Company uses a normal job order cost system. Other data: - There are three jobs that pass through the two production departments. - Job 401 and Job 402 were completed and sold during January. Job 403 was not completed as of December 31, 2022. - The company considers under- or overallocated overhead immaterial