Need help with questions on my Managerial Decisions final, problem 2: Job Costing

Step TWO: Perform Calculations \& Explain Methods For each problem (found in Appendix A): 1. Use your plan of action to solve each problem found in Appendix A, clearly outlining the procedures used, providing a concise explanation of each step, labeling relevant formulas, and showing worked out calculations and complete solutions. You may use a calculator or Excel spreadsheet to help perform the necessary calculations, but all corresponding work must be shown completely. 2. Answer all questions posed in the problem; if applicable, analyze and evaluate your results and provide a contextual explanation of the solutions you obtained. 3. Review your calculations and solutions and make sure that an external viewer would be able to follow your methodology and make sense of your calculations and corresponding explanations. Make certain that you have completed all steps of each problem. Step THREE: Complete Checklist for Submission Before you submit your work, check to see if you have met the criteria noted below. Did you: Answer all parts of each question completely and accurately? Provide clear and accurate steps, calculations, and solutions? Include an insightful analysis and evaluation of results where relevant? Problem \#2: Job Costing Auto Machinery makes automobile production equipment and uses normal costing. Overhead is applied on the basis of $12 per machine hour. The following information relates to the August jobs: Final Assessment: Outline and Rubric 5 Jobs 22 and 33 were completed and sold, but Job 44 remained in inventory at the end of August. For August, actual overhead incurred totaled $274,000. Required: 1. Compute the amount of overhead to be applied to each job. 2. Compute Cost of Goods Sold for August and ending WIP inventory at August 31. 3. Compute the amount of over- or underapplied overhead for August. 4. Assume that revenue for Jobs 22 and 33 amounted to $1,090,000, selling expenses totaled $218,000, general and administrative expenses were equal to $98,000, and over-or underapplied overhead is immaterial. Using this information, prepare an income statement for the manufacturer for August