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please help me do all of this. 13-A2 Disposition of Overhead Penski Precision Tooling applies factory overhead using machine hours and numher of component parts

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please help me do all of this.

13-A2 Disposition of Overhead Penski Precision Tooling applies factory overhead using machine hours and numher of component parts as cost-allocation bases. In 20X0, actual factory overhcad incurred was $125,(KX) and applied fac- tory overhead was $135,000. Before disposition of underapplied or overapplied factory overhead, the cost of goods sold was $525,000, gross profit was $60,000, and cnding inventories were as follows. Direct materials WIP Finished goods Total inventories $ 25,000 75,000 00,000 200,000 i. Was factory overhead overapplied or underapplied? By how much? 2. Assume that Penski writes off overapplied or underapplied factory overhead as an adjustment to 3. Assume that Penski prorates overapplied or underapplied factory overhead based on end-of-the- 4. Assume that actual factory overhead was $140,000 instead of $125,000, and that Penski writes off cost of goods sold. Compute adjusted gross profit. year unadjusted balances. Compute adjusted gross profit. overapplied or underapplied factory overhead as an adjustment to cost of goodsold. Compute adjusted gross profit

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