Karga Incorporated uses a job-order costing system and a predetermined overhead rate based on machine hours. At the beginning of the year, the company estimated manufacturing overhead for the year would be $240,000 and machine hours would be 8,000. The following information pertains to April of the current year: Work-in-process, April 1 December production activity: Materials requisitioned Direct labor cost Machine hours Labor hours Job 24 $16,000 $4,000 2,400 400 hrs. 120 hrs. Job 25 $26,000 $4,800 3,600 700 hrs. 180 hrs. Job 26 $38,000 $7,200 4,000 900 hrs. 200 hrs. Total $80,000 $16,000 10,000 2,000 hrs. 500 hrs. Actual manufacturing overhead cost incurred in April was $61,000.

Compute the predetermined overhead rate.

Create a Job-Order Cost Sheet for each job, and determine the total cost for each.

Jobs 24 and 26 were completed. Prepare the journal entry to move the cost.

Job 24 was delivered to customers that paid $50,000 cash. Prepare the journal entries.

What is the gross margin for Job 24?

What is the cost assigned to ending work in process?

Assuming no beginning finished goods what is the cost assigned to ending finished goods?

How much was overhead over/underapplied?