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Calculate the predetermined overhead rate for 2020, assuming Bertrand Manufacturing estimates total manufacturing overhead costs of $1,553,535, direct labour costs of $750,500, and direct labour hours of 20,400 for the year. Overhead rate 207'% Enter the January 1 balances on the job cost sheet for Job No. 50. Job Cost Sheets Beg. $ 30,400 $ 15,000 $ 21,000 Problem 3.31A a-f, 91, h Bertrand Manufacturing uses a joborder cost system and applies overhead to production on the basis of direct labour costs. On January 1, 2020, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $30,400, direct labour $15,000, and manufacturing overhead $21,000. As of January 1, Job No. 49 had been completed at a cost of $120,900 and was part of finished goods inventory. There was a $25,200 balance in the Raw Materials Inventory account. During the month of January, Bertrand Manufacturing began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were also sold on account during the month for $152,100 and $198,100, respectively. The following additional events occurred during the month: 1. Bertrand purchased additional raw materials of $108,000 on account. 2. It incurred factory labour costs of $75,700. Of this amount, $18,000 related to employer payroll taxes. 3. It incurred manufacturing overhead costs as follows: indirect materials $18,000, indirect iabour $17,500, depreciation expense $14,300, and various other manufacturing overhead costs on account $22,300. 4. It assigned direct materials and direct labour to jobs as follows: 50 $12,100 $7,200 51 42,300 23,400 52 35,200 22,000 Calculate the balance in the Finished Goods Inventory account at the end of the month. Finished Goods Inventory $ 129,988 Calculate the amount of under- or over-applied overhead. Overhead $ 47,132 over-applied 'v" Prepare the journal entry to record the completion of any job(s) during the month. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Finished Goods Inventory 230,592 Work in Process Inventory 230,592 Prepare the journal entries to record the sale of any job(s) during the month. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Cost of Goods Sold 221,504 Finished Goods Inventory 221,504 (To record cost of goods sold of Jobs 49 and 50) Accounts Receivable 350,200 Sales Revenue 350,200 (To record sale of Jobs 49 and 50)Post all costs to the job cost sheets as necessary. Job Cost Sheets Job No. 50 Direct Direct Manufacturing Date Materials Labour Overhead Beg. $30,400 $15,000 $21,000 Jan. 12,100 7,200 14,904 $ 42,500 $ 22,200 $ 35,904 Job No. 51 Direct Direct Date Manufacturing Materials Labour Overhead Jan. $ 42,800 $ 28,400 $ 58,788 $ 42,800 $ 28,400 $ 58,788 Job No. 52 Direct Direct Manufacturing Date Materials Labour Overhead Jan. $ 35,200 $ 22,000 $ 45,540 35,200 $ 22,000 $ 45,540 Total the job cost sheets for any job(s) completed during the month. Job Cost Sheets Job No. 50 Direct Direct Manufacturing Date Materials Labour Overhead Beg. $30,400 $15,000 $21,000 Jan. 12,100 7,200 14,904 $42,500 $22,200 $35,904 Cost of completed job Direct materials $ 42,500 Direct labour 22,200 Manufacturing overhead 35,904 Total cost $ 100,604 Job No. 51 Date Direct Direct Manufacturing Materials Labour Overhead Jan. $42,800 $28,400 $58,788 $42,800 $28,400 $58,788 Cost of completed job Direct materials $ 42,800 Direct labour 28,400 Manufacturing overhead 58,788 Total cost $ 129,988Prepare the journal entries to record the assignment of direct materials, direct labour, and manufacturing overhead costs to production. In assigning manufacturing overhead costs, use the overhead rate calculated in part (a). (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Work in Process Inventory 90,100 Raw Materials Inventory 90,100 (To record direct materials assigned to jobs 50, 51 and 52) Work in Process Inventory 57,600 Factory Labour 57,600 (To record direct labour assigned to jobs 50, 51 and 52) Work in Process Inventory 119,232 Manufacturing Overhead 119,232 (To record manufacturing overhead assigned to jobs 50, 51 and 52)Prepare the journal entries to record the purchase of raw materials, the factory labour costs incurred, and the manufacturing overhead costs incurred during the month of January. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. Raw Materials Inventory 108,000 Accounts Payable 108,000 2. Factory Labour 75,700 Factory Wages Payable 57,700 Employer Payroll Taxes Payable V 18,000 3. Manufacturing Overhead 72,100 Accounts Payable 22,300 Accumulated Depreciation 14,300 Raw Materials Inventory 18,000 Factory Labour 17,500