Keezel Company uses normal costing in its job-costing system. Partially completed T-accounts and additional information for Keezel for 2017 are as follows: (Click the icon to view the T-accounts.) (Click the icon to view the additional information.) Read the requirements Requirement 1. What was the amount of direct materials issued to production during 2017? Direct materials issued to production during 2017 was $ 148,000 Requirement 2. What was the amount of manufacturing overhead allocated to jobs during 2017? First identify the formula to calculate the manufacturing overhead allocated. Direct manufacturing labor hours x Manufacturing overhead rate Manufacturing overhead allocated = Manufacturing overhead allocated to jobs during 2017 was $ 380,000 Requirement 3. What was the total cost of jobs completed during 2017? The total cost of jobs completed during 2017 was $ 705,000 Requirement 4. What was the balance of work-in-process inventory on December 31, 2017? Post the entries during the year in the Work-in-process control account to determine the ending balance on December 31, 2017. Be sure to select reference labels for each of the entries. Work-in-Process Control 82,000 1-1-2017 148000 285000 380,000 705,000 12-31-2017 190,000 i T-accounts Direct Materials Control 1-1-2017 42,000 148,000 135,000 Work-in-Process Control 1-1-2017 82,000 Dir. Manuf. labor 285,000 Manufacturing Overhead Allocated Finished Goods Control 1-1-2017 105,000 705,000 700,000 Cost of Goods Sold Manufacturing Overhead Control 425,000 Print Done i Requirements -X 1. What was the amount of direct materials issued to production during 2017? 2. What was the amount of manufacturing overhead allocated to jobs during 2017? 3. What was the total cost of jobs completed during 2017? 4. What was the balance of work-in-process inventory on December 31, 2017? 5. What was the cost of goods sold before proration of under- or overallocated overhead? 6. What was the under-or overallocated manufacturing overhead in 2017? 1. Dispose of the under-or overallocated manufacturing overhead using the following: a. Write-off to Cost of Goods Sold b. Proration based on ending balances (before proration) in Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold 8. Using each of the approaches in requirement 7, calculate Keezel's operating income for 2017 9. Which approach in requirement 7 do you recommend Keezel use? Explain your answer briefly Print Done