PopStop Company had no jobs in progress at the beginning of February and no beginning inventories. It started only two jobs during February-Job P and Job Q. Job P was completed and sold by the end of the February and Job Q was incomplete at the end of the February. The company uses a plantwide predetermined overhead rate based on direct labor-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of February): Estimated total manufacturing overhead $12,000 Estimated total direct labor hours to be worked 2,000 Total actual mfg overhead costs incurred $12,500 Job P Job Q Direct materials $8,000 $13,000 21,000 Direct labor $7,500 Actual direct labor hours worked 1,400 500 1. What is the company's predetermined overhead rate? 2. How much manufacturing overhead was applied to Job P and Job Q? 3. What is the direct labor hourly wage rate? 4. If Job P includes 20 units, what is its unit product cost? What is the total amount of manufacturing cost assigned to Job Q as of the end of February (including applied overhead)? 5. Assume the ending raw materials inventory is $1,000 and the company does not use any indirect materials. Prepare the journal entries to record raw materials purchases and the issuance of direct materials for use in production. 6. Assume that the company does not use any indirect labor. Prepare the journal entry to record the direct labor costs added to production. 7. Prepare the journal entry to apply manufacturing overhead costs to production. 8. Prepare the journal entry to transfer costs from Work in Process to Finished Goods. 9. Prepare the journal entry to transfer costs from Finished Goods to Cost of Goods Sold. 10. What is the amount of underapplied or overapplied overhead? 9. Prepare the journal entry to transfer costs from Finished Goods to Cost of Goods Sold. 10. What is the amount of underapplied or overapplied overhead? 11. Prepare the journal entry to close the amount of underapplied or overapplied overhead to Cost of Goods Sold