need help with D and E

O'Leary Corporation manufactures special purpose portable structures thuts, mobile offices, and so on) for use at construction sites. It only builds to order (each unit is built to customer specifications). O'Leary uses a normal job costing system Direct labor at O'Leary is paid $34 per hour, but the employees are not paid if they are not working on jobs. Manufacturing overhead is assigned to jobs by a predetermined rate on the basis of direct labor-hours. The company incurred manufacturing overhead costs during two recent years (adjusted for price-level changes using current prices and wage rates) as follows Year 1 79,400 Year 2 57,460 Direct labor-hours worked Manufacturing overhead costs incurred Indirect labor Employee benefits Supplies Power Heat and light Supervision Depreciation Property taxes and insurance Total manufacturing overhead costs $2,896,000 1,056,000 704,000 661,000 144,500 786, 110 2,054,500 $19,599 59,152,000 $2,296,000 861,000 574,000 556,000 144,800 666,450 2,884,500 853,250 $8,036,000 At the beginning of year 3, O'Leary has two jobs, which have not yet been delivered to customers Job MC-270 was completed on December 27. year 2. It is scheduled to ship on January 7 year 3. Job MC-275 is still in progress. For the purpose of computing the predetermined overhead rote, O'Leary uses the previous year's actual overhead rate. Doto on direct material costs and direct labor hours for these jobs in year 2 follow. Job MC 270 Job MC-275 Dicect material costs $273,400 5498,400 Direct labor hours 2,670 hours 3,370 hours During year 3. O'Leary incurred the following direct material costs and direct labor hours for all jobs worked in years, including the completion of Job MC-275 Direct material costs Direct labor-hours Actual manufacturing overhead $11,843,400 77,400 $ 9,936,090 At the end of year 3, there were four jobs that had not yet shipped Data on these jobs follow. 2 Direct materials Direct labor-hours Job status MC389 $46,600 1,774 hours Finished MC-390 $70,400 2,870 hours Finished MC-397 $106,900 6,270 hours In progress MC-399 $32,300 1,470 nours In progress Required: .. What was the amount in the beginning Finished Goods and beginning Work In Process accounts for year 39 b. O'Leary incurred direct materials costs of $60,400 and used on additional 640 hours in year 3 to complete job MC.275. What was the final (total) cost charged to job MC 275? c. What was over- or underapplied overhead for year 3? d. O'Leary prorates any over- or underapplied overhead to Cost of Goods Sold Finished Goods Inventory, and Work In Process Inventory. Prepare the journal entry to prorate the over or underapplied overhead, e. A customer has asked O'Leary to bid on a job to be completed in year 4. O'Leary estimates that the job will require about $94 200 in direct materials and 5.170 direct lobor hours. Because of the economy. O'Leary expects demand for its services to be low in year 4 and the CEO wants to bid aggressively, but does not want to lose any money on the project. O'Leary estimates that there would be virtually no sales or administrative costs ossociated with this job. What is the minimum amount o Leaty can bid on the job and still not incur loss? oney on the project O'Leary estimates that there would be virtually no sales or administrative costs associated with this job. What is the minimum amount O'Leary can bid on the job and still incur a loss? Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required Required Required E What was the amount in the beginning Finished Goods and beginning Work-in-process accounts for year 3? $ Work-in-process inventory Finished goods inventory 1,051,080 711,280 IS Required B > incur a loss? Leary can Did on the job and still Answer is not complete. Complete this questwn by entering your answers in the tabs below. Required A Required B Required C Required D Required E O'Leary incurred direct materials costs of $60,400 and used an additional 640 hours in year 3 to complete job MC-275. What was the final (total) cost charged to job MC-2757 Final (total cost charged S 1,222,840 Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Required E O'Leary prorates any over- or underapplied overhead to cost of Goods Sold, Finished Goods Inventory, and Work-in-Process Inventory. Prepare the journal entry to prorate the Over- or Underapplied Overhead. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) No Transaction General Journal Debit Credit A Manufacturing overhead 900,000 Work in process 49,398 Finished goods 30,752 Cost of sales 819.851 & X Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required a Required D Required E A customer has asked O'Leary to bid on a job to be completed in year 4. O'Leary estimates that the job will require about $94,200 in direct materials and 5,170 direct labor-hours. Because of the economy, O'Leary expects demand for its services to be low in year 4, and the CEO wants to bid aggressively, but does not want to lose any money on the project. O'Leary estimates that there would be virtually no sales or administrative costs associated with this job. What is the minimum amount O'Leary can bid on the job and still not incur a loss? Show less Minimum amount