Page 2 of 11 Problem 2 On October 1, the general ledger of Morgan Industries had the following accounts and balances: Page 3 of 11 Overhead is applied based upon direct labor cost with the same rate used in both September and October. Jobs B81, B83, and B84 were for 8,000, 6,000 and 4,800 units of product, respectively, and were completed during October. Jobs B80, B81, B82, and B83 were sold on account for a total of $150,000. Assume any over or under applied overhead is written of to cost of goods sold. Materials inventory Work-in-process inventory Finished goods inventory Manufacturing overhead (overapplied) $19,200 $48,750 $8.100 $2,000 The subsidiary ledgers had the following information on October 1: Job Cost Sheets Job Direct Number Materials B81 $4,300 Required: This question refers to Problem 2. What was the rate used to apply overhead in September? This question refers to Problem 2. What is the balance of the Finished Goods Inventory assigned to Job B82 on October 1? . This question refers to Problem 2. What is the balance of Direct Labor assigned to Job 83 in Work in Process Inventory on October 1? This question refers to Problem 2. What is the total amount of Direct Materials assigned to Work in Process Inventory on October 1? This question refers to Problem 2. What is the balance of Direct Materials assigned to Job 81 in Work in Process Inventory on October 1? . This question refers to Problem 2. How much overhead is assigned to Job B83 during October? . This question refers to Problem 2. What is the cost of goods manufactured for Job B83? This question refers to Problem 2. What is the unit cost for items included in Job B83? (Round to the nearest $0.001). This question refers to Problem 2. If 3,250 of the total units manufactured for Job B83 were delivered to the customer in October, what would be the cost of goods sold pertaining to Job B83 in October? (Round to the nearest $1.00). Direct Labor $7,000 ? Finished Goods Cards Job Number Cost B80 $5,200 B82 MOH $8,750 $11,500 $20,250 B83 During October, the following costs were incurred on account: Materials Factory labor Manufacturing overhead $46,500 $49,000 $56,350 A summary of the materials requisition slips and the labor time tickets for the month revealed the following distribution: Time Tickets Applicable to Job B81 Job B83 Job B84 Job B85 Job B86 General Use Material Requisitions $8,000 $5,100 $8,600 $19,900 $12,750 $4,000 $1,700 $10,500 $16,750 $4,500 ? $58,250