o el 1:35. CB 9. OD Nov 17, 2020 a... / . Throw These Aldo Tul Dec AR port The www wy SH tec TW the way WW THEART www. wwwww (1 40 1:49 7 0 $ 20 Nov 17, 2020 at 1:26 P.... COS A. Oyi .. The During pando THE ma www. S Det EXON Theme TE * INT Per that wacht Pok III goods manufactured. The company's policy is to price its job at cost plus 30% markup. On January 1, 2016, there was nie P3-37A Red Fire Inc. produces fire trucks. The company uses a normal job-order costing system to calculates (C) onlculate the under or over-applied over one job in process, with the following costs: Job 200 Direct materials $13,500 Direct labour 18,000 Applied overhead 27,000 Total $58,500 The following balances were taken from the general ledger of the company as of January 1, 2016 Direct materials inventory $45,000 Finished goods inventory (for Job 100) $85.000 During the year 2016, the following events occurred: Direct materials were purchased on account for $375,000 Two more jobs were started: Job 300 and Job 400. Direct materials and direct labour costs incurred by cach jste process during the year 2016 were as follows: Job 200 Job 300 Job 400 Direct materials $150,000 545,000 $35,000 Direct labour $130,000 $45,000 $25,000 The company incurred the following actual factory overhead during the year: Factory rent $135,000 Factory supplies $ 55,500 Indirect labour $ 85,750 Jobs 200 and 300 were completed. Jobs 100 and 200 were sold. Instructions () Calculate the total applied overhead for the year 2016. The factory overhead costs are applied to each job on the back of direct labour dollars. (b) Prepare simple job-order cost sheets for jobs 200, 300, and 400 for the year ended December 31, 2016. (c) Determine whether the overhead is over-applied or under-applied. By how much? (d) Prepare a schedule of cost of goods sold, identifying both normal and adjusted cost of goods sold, for the year endel December 31, 2016. (e) Calculate the selling price of Job 200. cCalculate the ending balances as of December 31, 2016, for the following accounts: Direct Materials and Work in Praias o el 1:35. CB 9. OD Nov 17, 2020 a... / . Throw These Aldo Tul Dec AR port The www wy SH tec TW the way WW THEART www. wwwww (1 40 1:49 7 0 $ 20 Nov 17, 2020 at 1:26 P.... COS A. Oyi .. The During pando THE ma www. S Det EXON Theme TE * INT Per that wacht Pok III goods manufactured. The company's policy is to price its job at cost plus 30% markup. On January 1, 2016, there was nie P3-37A Red Fire Inc. produces fire trucks. The company uses a normal job-order costing system to calculates (C) onlculate the under or over-applied over one job in process, with the following costs: Job 200 Direct materials $13,500 Direct labour 18,000 Applied overhead 27,000 Total $58,500 The following balances were taken from the general ledger of the company as of January 1, 2016 Direct materials inventory $45,000 Finished goods inventory (for Job 100) $85.000 During the year 2016, the following events occurred: Direct materials were purchased on account for $375,000 Two more jobs were started: Job 300 and Job 400. Direct materials and direct labour costs incurred by cach jste process during the year 2016 were as follows: Job 200 Job 300 Job 400 Direct materials $150,000 545,000 $35,000 Direct labour $130,000 $45,000 $25,000 The company incurred the following actual factory overhead during the year: Factory rent $135,000 Factory supplies $ 55,500 Indirect labour $ 85,750 Jobs 200 and 300 were completed. Jobs 100 and 200 were sold. Instructions () Calculate the total applied overhead for the year 2016. The factory overhead costs are applied to each job on the back of direct labour dollars. (b) Prepare simple job-order cost sheets for jobs 200, 300, and 400 for the year ended December 31, 2016. (c) Determine whether the overhead is over-applied or under-applied. By how much? (d) Prepare a schedule of cost of goods sold, identifying both normal and adjusted cost of goods sold, for the year endel December 31, 2016. (e) Calculate the selling price of Job 200. cCalculate the ending balances as of December 31, 2016, for the following accounts: Direct Materials and Work in Praias