note: i only need the answers for item 4-8 the answer for 1-3 is given below

need answer

SAMIM (x)IPS) General Ledper Accounts Werk in Preces Inseatery (WII) Flaished Ceode finentery In Haluse 10000 Sales Rennat Cime ef Coods seld Chih and Othre Aests During January. the congery had the folliaing tramsotions: a. Ponthand 510000 woth of raw materials on accouat. b. Isroed the following materials into prodoction: C. Recended salarits and eages foyable as Adlios: d. Applicd evahesd to job based en the number of direct Lhber hours required: 4. Recerded the following actual munufictaring coik: t. Recorded the following general and adminiberative costs: 2. Sold Job 101. which is monded in Fianted Goods Inventory at a cout of 53000, far 555.000. h. Corngleted fob 102ka did act seit it lob 103 is still in proces at year end. Required: 1. Compute and interpret the predetermined overhead rate. 2. Prepare journal entries to record the January transactions and post the entrics to the general ledger T-accounts given earlier in the problem. 3. How much overhead would be applied to jobs during the period? 4. Compute the total cost of Jobs 102 and 103 at the end of the period. Where would the cost of each of these jobs appear on the year-end balance sheet? 5. Calculate the amount of over- or underapplied overhead. 6. Prepare the journal entry to dispose of the overhead balance assuming that it had been a yearend balance instead of a month-end balance. Post the effect to the general ledger T-accounts. 7. Prepare a statement of cost of goods manufactured report. 8. Prepare a brief income statement for Sampson Company including the adjustment for over- or underapplied overhead. $30 per how \begin{tabular}{|l|c|c|l|} \hline \multicolumn{4}{|c|}{ Cost of goods sold } \\ \hline Ref. & Debit & Credit & Ref. \\ \hline g. & 30000 & & \\ \hline \end{tabular} \begin{tabular}{l} Sales revenue \\ \begin{tabular}{|l|l|c|l|} \hline Ref. & Debit & Credit & Ref. \\ \hline & & 55000 & g. \\ \hline \end{tabular} \\ \hline \end{tabular} Selling,general and administrative expenses Cash and other assets \begin{tabular}{|l|r|r|l|} \hline Ref. & \multicolumn{1}{|l|}{ Debit } & Credit & Ref. \\ \hline c. & 5000 & & \\ \hline f. & 6000 & & \\ \hline & 11000 & & \\ \hline 1/31 Bal. & 11000 & & \\ \hline \end{tabular} \begin{tabular}{|l|r|r|l|} \hline Ref. & \multicolumn{1}{|l|}{ Debit } & \multicolumn{1}{l|}{ lredit } & Ref. \\ \hline 1/1 Bal. & 100000 & 14000 & e. \\ \hline g. & 55000 & 5000 & f. \\ \hline & 155000 & 19000 & \\ \hline 1/31 Bal. & 136000 & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline Ref. & Debit & Credit & Ref. \\ \hline & & 70000 & 1/1 Bal. \\ \hline \end{tabular} 3 Overhead applied to jobs=Direct labor hours Predetermined overhead rate =50030=$15000 SHMSON COsIPINI General Ledger Accounts Raw Materials Iacrntory. Manufacturiag Overhead Sales Revenue Selling, General, and Admainietrasve Espcuies Cush and Other Assets Berebles and Other Liabilition During January, the company had the following trancactions: a. Purchased $10.000 worth of raw materials on account. b. Issued the following materials into production: c. Recorded salaries and wages payable as follows: d. Applied overhead to jobs based on the number of direct labor hours required: e. Recorded the following actual manufacturing costs: f. Recorded the following general and administrative costs: g. Sold Job 101, which is recorded in Finished Goods Inventory at a cost of $30,000, for $55,000. h. Completed Job 102 but did not sell it; Job 103 is still in process at year-end. SAMIM (x)IPS) General Ledper Accounts Werk in Preces Inseatery (WII) Flaished Ceode finentery In Haluse 10000 Sales Rennat Cime ef Coods seld Chih and Othre Aests During January. the congery had the folliaing tramsotions: a. Ponthand 510000 woth of raw materials on accouat. b. Isroed the following materials into prodoction: C. Recended salarits and eages foyable as Adlios: d. Applicd evahesd to job based en the number of direct Lhber hours required: 4. Recerded the following actual munufictaring coik: t. Recorded the following general and adminiberative costs: 2. Sold Job 101. which is monded in Fianted Goods Inventory at a cout of 53000, far 555.000. h. Corngleted fob 102ka did act seit it lob 103 is still in proces at year end. Required: 1. Compute and interpret the predetermined overhead rate. 2. Prepare journal entries to record the January transactions and post the entrics to the general ledger T-accounts given earlier in the problem. 3. How much overhead would be applied to jobs during the period? 4. Compute the total cost of Jobs 102 and 103 at the end of the period. Where would the cost of each of these jobs appear on the year-end balance sheet? 5. Calculate the amount of over- or underapplied overhead. 6. Prepare the journal entry to dispose of the overhead balance assuming that it had been a yearend balance instead of a month-end balance. Post the effect to the general ledger T-accounts. 7. Prepare a statement of cost of goods manufactured report. 8. Prepare a brief income statement for Sampson Company including the adjustment for over- or underapplied overhead. $30 per how \begin{tabular}{|l|c|c|l|} \hline \multicolumn{4}{|c|}{ Cost of goods sold } \\ \hline Ref. & Debit & Credit & Ref. \\ \hline g. & 30000 & & \\ \hline \end{tabular} \begin{tabular}{l} Sales revenue \\ \begin{tabular}{|l|l|c|l|} \hline Ref. & Debit & Credit & Ref. \\ \hline & & 55000 & g. \\ \hline \end{tabular} \\ \hline \end{tabular} Selling,general and administrative expenses Cash and other assets \begin{tabular}{|l|r|r|l|} \hline Ref. & \multicolumn{1}{|l|}{ Debit } & Credit & Ref. \\ \hline c. & 5000 & & \\ \hline f. & 6000 & & \\ \hline & 11000 & & \\ \hline 1/31 Bal. & 11000 & & \\ \hline \end{tabular} \begin{tabular}{|l|r|r|l|} \hline Ref. & \multicolumn{1}{|l|}{ Debit } & \multicolumn{1}{l|}{ lredit } & Ref. \\ \hline 1/1 Bal. & 100000 & 14000 & e. \\ \hline g. & 55000 & 5000 & f. \\ \hline & 155000 & 19000 & \\ \hline 1/31 Bal. & 136000 & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline Ref. & Debit & Credit & Ref. \\ \hline & & 70000 & 1/1 Bal. \\ \hline \end{tabular} 3 Overhead applied to jobs=Direct labor hours Predetermined overhead rate =50030=$15000 SHMSON COsIPINI General Ledger Accounts Raw Materials Iacrntory. Manufacturiag Overhead Sales Revenue Selling, General, and Admainietrasve Espcuies Cush and Other Assets Berebles and Other Liabilition During January, the company had the following trancactions: a. Purchased $10.000 worth of raw materials on account. b. Issued the following materials into production: c. Recorded salaries and wages payable as follows: d. Applied overhead to jobs based on the number of direct labor hours required: e. Recorded the following actual manufacturing costs: f. Recorded the following general and administrative costs: g. Sold Job 101, which is recorded in Finished Goods Inventory at a cost of $30,000, for $55,000. h. Completed Job 102 but did not sell it; Job 103 is still in process at year-end