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please solve all neatly. if possible in a paper. thank you:) Question 3 1 2 Mentory Company uses a job order cost system and applies

please solve all neatly. if possible in a paper. thank you:)

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Question 3 1 2 Mentory Company uses a job order cost system and applies overhead to production on the basis of direct labor hours. On January 1, 2020, Job No. 25 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $10,000; direct labor $6,000; and manufacturing overhead $9,000. Job No. 23 had been completed at a cost of $42,000 and was part of finished goods inventory. There was a $5,000 balance in the Raw Materials Inventory account. During the month of January, the company began production on Jobs 26 and 27, and completed Jobs 25 and 26. Jobs 23 and 25 were sold on account during the month for $63,000 and $74,000, respectively. 3 The following additional events occurred during the month. Purchased additional raw materials of $45,000 on account. Incurred factory labor costs of $33,500. Of this amount, $7,500 related to employer payroll taxes. Incurred manufacturing overhead costs as follows: indirect materials $10,000; indirect labor $9,500; depreciation expense on equipment $12,000; and various other manufacturing overhead costs on account $11,000. 4. Assigned direct materials and direct labor to jobs as follows. Job No. 25 26 27 Direct Materials $ 5,000 17,000 13,000 Direct Labor $ 3,000 12,000 9,000 5. The companyuses direct labor hours as the activity base to assign overhead. Direct labor hours incurred on each job were as follows: Job No. 25, 200 hours; Job No. 26, 800 hours; and Job No. 27, 600 hours. Required (a) (b) Calculate the predetermined overhead rate for the year 2020, assuming Mentory Company estimates total manufacturing overhead costs of $480,000, and direct labor hours of 20,000 for the year. Prepare the journal entries to record the purchase of raw materials, the factory labor costs incurred, and the manufacturing overhead costs incurred during the month of January. (c) Prepare the journal entries to record the assignment of direct materials, direct labor, and manufacturing overhead costs to production. In assigning manufacturing overhead costs, use the overhead rate calculated in (a). (d) (e) (f) Prepare the journal entry (or entries) to record the completion of any job(s) during the month. Prepare the journal entry (or entries) to record the sale of any job(s) during the month. Prepare the Work in Process Inventory account. What is the balance in the Work in Process Inventory account at the end of the month? What does this balance consist of? What is the amount of over- or underapplied overhead? (g)

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