Please see attached. 2 problems

1. Factory overhead for the Praeger Company has been estimated as follows: Fixed overhead Variable overhead $122,500 $90,000 Budgeted direct labor hours 42,500 Production for the month was 90 percent of the budget, and actual factory overhead totaled $175,000. Calculate: a. The predetermined factory overhead rate. b. The under- or overapplied factory overhead. 2. The Joan Company uses the process cost system and average cost method. The following production data are for the month of July, 20--. Production Costs Work in process, beginning of month: Materials Labor Factory overhead Costs incurred during month: Materials Labor Factory overhead Total $18,500 8,750 4,850 $93,500 42,450 33,550 $ 32,100 169,500 $201,600 Production Report In process, beginning of month Finished and transferred during month Work in process, end of month Stage of completion 1. (a) Prepare a cost of production summary for the month. (b) Prepare the journal entries to record production for the month Units 4,000 28,000 10,000 40%