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Purchase of raw materials (all direct) ......$254,000 Direct manufacturing labour cost ...... Manufacturing overhead costs: .. 156,000 Insurance ....... Amortization of equipment .. ..... 22,000 Indirect labour ... 28,000 Property taxes 92,000 Maintenance ... 12,000 Rent, building ..27,000 .84,000 1. a. Compute the predetermined overhead rate for the year. (2 mark) b. Compute the amount of under-or over allocated overhead for the year and prepare the journal entry to write it off to cost of goods sold. (4 marks) 2. Prepare journal entries for transactions affecting the Work in Process account for the year. (4 marks) 3. Compute the cost of goods sold for the year. (Do not include any under - or over allocated overhead in your cost of goods sold figure.) (2 marks) 4. Job 222 was started and completed during the year. What price would have been charged to the customer if the job required $4,500 in direct materials and $5,800 in direct manufacturing labour cost, and the company priced its job at 30% above cost to manufacture? (4 marks) 5. Direct labour made up $16,800 of the $76,000 ending Work in Process inventory balance. Of the remaining balance of $59,200, how much was direct materials and how much was manufacturing overhead? Focus + 100% MacBook Air F6 F7 F8 F9 F10 F11 F12 U