Pharoah Assemblers uses normal job-order costing to assign costs to products. The company assembles and packages 25 different products according to customer specifications. Products are worked on in batches of 20 to 40 units. Each batch is given a job number. On October 1, the company had the following balances: $11.470 Raw materials Work in process Finished goods 77,063 35.850 Work in process consisted of the following jobs: Job 22 Job 24 Job 25 Direct materials $7.250 $6,070 $5,620 12.290 10,780 11,120 Direct labour Applied overhead 8,603 7,546 7.784 Total $28.143 24,396 $24,524 Number of units 20 40 30 Finished goods consisted of Job 23 with the following costs: Finished goods consisted of Job 23, with the following costs: Job 23 $9,590 15,440 Direct materials Direct labour Applied overhead Total Number of units 10,810 $35,840 50 Shown below are the direct cost data related to jobs started in October: Job 26 Job 27 Job 28 Total $6,060 $6,550 $4.910 $17.520 Direct materials $13.100 $10.930 $6,910 Direct labour $30,940 20 30 20 Number of units Other information: Direct materials and direct labour added to beginning work in process in October were as follows: Other information: 1. Direct materials and direct labour added to beginning work in process in October were as follows: Job 22 Job 24 Job 25 Total $1,350 $710 $1,760 $3,820 Direct materials Direct labour 3,510 5,270 6,440 15.220 2 Overhead is applied at a predetermined rate based on the direct labour cost. Actual expenses for October were as follows: 3. $7,020 $2.460 Supervisory salaries Factory rent Depreciation (machines) Supplies (factory) Selling expenses 9.950 5,850 2,630 5,850 Property tax and insurance 4,910 Indirect labour 4,680 CPP, El, and other benefits 4. *80% of employer contributions and benefits relate to factory personnel. Purchases of direct materials (raw materials) during October amounted to $33,350. Indirect materials (supplies) are handled in a separate account. Only Jobs 27 and 28 are still in process at closing on October 31. Finished goods consisted only of Job No. 25 at month end. Pharoah writes off any under and over-applied overhead to Cost of Goods Sold in the month in which it is incurred. 5. 6. Calculate the predetermined overhead rate used by Pharoah to apply overhead to jobs. Predetermined overhead rate % Calculate the unit cost of Job No. 24 in October. (Round answer to 2 decimal places, eg. 52.75.) Unit cost of Job No. 24 $ Calculate the October 31 balances for the following inventory accounts. 1. Raw Materials $ 2. Work in Process $ 3. Finished Goods $ What is the cost of goods manufactured in October? Cost of goods manufactured Determine the under or over-applied overhead for October, $ Prepare the journal entry to dispose of this amount. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Account Titles and Explanation