Name: ACCT 285 - Practice Set #2 (Chapter 3) Chapter 3 Mela Company Mela Company uses a job order costing approach. Direct labor hours are used as the allocation base for overhead costs. At the beginning of the year, it was estimated that the company would use 468,000 direct labor hours. It was estimated that the corporation would incur $7,581,600 of manufacturing overhead costs. The company ended up using 452,000 direct labor hours during the year. The actual manufacturing overhead costs incurred during the year were $6,984,000. The company reported the following cost information for job #R182: Direct material cost $51,800 Direct labor cost per hour $20 Estimated labor hours used 320 Actual labor hours used 331 1) What is the pre-determined overhead rate for the year? 2) What is the total manufacturing overhead cost applied to job #R182? 3) What is the total manufacturing overhead cost applied across the year? 4) Is overhead overapplied or underapplied for the year? And by how much?Helm Co. Job B254 at Helm Co. was started in January and finished during February. Job B254 was Helm Co's only job in process during February. The company had no finished goods inventory on February 1. Data concerning job B254 appear below: Beginning work in process inventory $67,000 Cost charged to the job during February: Direct materials $38,200 Direct labor $9,700 Manufacturing overhead applied $4,200 Units completed 12 Units in process at the end of February 0 Ending finished goods inventory $19,850 In February, overhead was underapplied by $1,840. The company adjusts its cost of goods sold every month for the overhead that was underapplied or overapplied. 1) What is the total manufacturing cost charged to the job during February? 2) What is the cost of goods manufactured in February? 3) What is the unit product cost for the units in job B254? 4) Determine the unadjusted cost of goods sold for May. 5) Determine the adjusted cost of goods sold that would be placed on the income statement