Moodle A 6 Job-Order Costing Pedantic Company uses a job order cost system and applies overhea Time left 2:12:13 on the basis of direct labor hours. On February 1, 20X2, Job No. 25 was the only job in process. The costs incurred prior to February 1 on job No. 25 were $21,000. Job No. 23 had been completed at a cost of $42,000 and was part of finished goods inventory on February 1. There was a $5,000 balance in the Raw Materials Inventory account. During the month of February, the company began production on Jobs 26 and 27, and completed Jobs 25 and 26. Jobs 23 and 25 were sold on account during the month for $63,000 and $74,000, respectively. The following additional events occurred during the month. 1. Purchased additional raw materials of $45,000 on account. 2. Incurred factory labor costs of $33,500. Of this amount, $7,500 related to employer payroll taxes. 3. Incurred manufacturing overhead costs as follows: indirect materials $11,000; indirect labor $7,500; and various other manufacturing overhead costs on account $3,000. 4. Assigned direct materials and direct labor to jobs as follows. Job No. Direct Materials Direct Labor Moodle X A 4. Assigned direct materials and direct labor to jobs as follows. Job No. 222 Direct Materials Direct Labor $ 4,500 $3,000 16,000 13,500 12,000 9,000 Time left 2:12:02 5. The company uses direct labor hours as the activity base to assign overhead. Estimated total manufacturing overhead costs were $380,000, total estimated direct labor costs were $300,000, and total estimated direct labor hours were 20,000 for the year. The beginning balance in the Manufacturing Overhead account is $15,000 of actual cost. Actual direct labor hours incurred on each job were as follows: Job No. 25, 100; Job No. 26, 350; and Job No. 27, 600. Using the information above, calculate and match each answer below: (a) Predetermined Overhead Rate: (b) Cost of Goods Manufactured in February: (c) Ending balance in Work In Process Inventory: " Using the information above, calculate and match each answer below (a) Predetermined Overhead Rate: (b) Cost of Goods Manufactured in February: (c) Ending balance in Work In Process Inventory: (d) Cost of Goods Sold in February: (e) Total Job Cost of Job 25: Time left 2:11:50 (f) Manufacturing Overhead cost assigned to Work in Process Inventory during the month: 0 (g) Ending balance in Manufacturing Overhead: (h) Total Job Cost of Job 27: (i) Manufacturing Overhead at the end of the month is (j) Beginning balance in the Work In Process Inventory account: -applied. Next page