Part I -Job Order Costing ed work on job M-17 this month, until it was finished and sold near the end of the month. The following information pertains to job M17 .Work d one in previous periods included $22,000 of raw materials and $64,000 of conversion cost . This month, the company purchased $14,000 of raw materials which gave them a total of $97,000 available for use. Actual material usage for the month was $77,000 per hour. This month, there The company's average wage rate for assembly workers is were a total of 1,200 man-hours incurr $23 ed for this type of work. e Overhead is applied to production based on man hours. The budget for the month called for 40,000 of overhead and 1,400 man-hours. Actual overhead costs were tabulated at the end of the month and totaled $110,000. Use the preceding information to complete the CH 19 tab in the excel book provided. Calculate the pre- determined overhead rate (POHR) and put your answer in the appropriate cell (be sure to i Each T-account should be completed by inputting a beginning balance (sometimes this may be zerol adds, subtracts, and an ending balance. After recording all entries pertaining to the information above, review the account for overhead to determine if it is over or under-applied (fill in the cell provided with the word and the dollar amount). Then, make the appropriate adjustment to address this issue. Part II Equivalent Units Jones Steel has been manufacturing ball bearings as one of its main products. Due to the firm's unique production process, materials are not added until conversion is 50% complete. This month started with 13,500 ball bearings in process that had not yet been completed (were 40% complete with respect to conversion cost). Cost incurred on these units totaled $18,000. Also, the company started another 75,000 ball bearings from scratch. At the end of the month 63,500 ball bearings were complete. The incomplete units were 60% complete with respect to conversion cost. Total materials cost for the current month was found to be $125,000 while conversion cost for the current month was $85,000. Use the CH 20 tab of the template to calculate equivalent units of production and cost per equivalent unit based on the above information Started Total to account for Transferred out EB Total accounted for % Materials % Conversion Transferred out EB Total BB $ Current period $ Total $ $/EU Finished Goods Prior to adjustment overhead is: The POHR is IS