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please help! Erkens Company uses a job costing system with normal costing and applies factory overhead on the basis of machine hours. At the beginning

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Erkens Company uses a job costing system with normal costing and applies factory overhead on the basis of machine hours. At the beginning of the year, management estimated that the company would incur $1,769,000 of factory overhead costs and use 61,000 machine hours. Erkens Company recorded the following events during the month of April: a. Purchased 184,000 pounds of raw materials on account; the cost was $5.20 per pound. b. Issued 122,000 pounds of raw materials to production, of which 16,000 pounds were used as indirect materials. c. Incurred direct labor costs of $250,000 and $42,000 of indirect labor costs. d. Recorded depreciation on equipment for the month, $76,100. e. Recorded expired insurance costs for the manufacturing property, $3,700. f. Paid $8,700 cash for utilities and other miscellaneous items for the manufacturing plant. g. Completed Job H11 costing $7,700 and Job G28 costing $78,000 during the month and transferred them to the Finished goods inventory account. h. Shipped Job G28 to the customer during the month. The job was invoiced at 35% above cost. 1. Applied manufacturing overhead (used 8,100 machine hours during April). Required: 1. Compute Erkens Company's predetermined overhead rate for the year. 2. Prepare journal entries to record the events that occurred during April. 3-a. Compute the amount of overapplied or underapplied overhead. 3-b. Prepare a journal entry to close overapplied or underapplied overhead into cost of goods sold on April 30. Complete this question by entering your answers in the tabs below

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