PROBLEM $2(35\%)$

The following is Kokona Company's inventory balance on February $1,2024$:

WIP Inventory includes the following three jobs:

Finished goods inventory is Job $39$ which was completed at the end of January $2024.$

During February, Kokona Company made the following transactions:

a$.$ Purchased raw materials on credit amounting to IDR $21\mathrm{.}000\mathrm{.}000.$

b$.$ Use direct materials for:

Job $40=Rp12\mathrm{.}500\mathrm{.}000$

$J$ Job $41=Rp11\mathrm{.}200\mathrm{.}000$

Job $42=Rp5\mathrm{.}500\mathrm{.}000$

c$.$ Collect job tickets for direct labor:

Job $40=250$ hours, with wages Rp $12\mathrm{.}000$ per hour of direct labor

Job $41=275$ hours, with wages Rp $15\mathrm{.}000$ per hour of direct labor

Job $42=140$ hours, with wages Rp $20\mathrm{.}000$ per hour of direct labor

d$.$ Overhead is allocated to Jobs based on direct labor costs.

e$.$ Actual overhead costs were totalling Rp $8\mathrm{.}718\mathrm{.}000.$

f$.$ Complete and transfer Job $40$ to the finished goods warehouse.

g$.$ Send Jobs $39$ and $40$ to the customer and bill at $130$ percent of production costs.

h$.$ Adjustments for over$/$underapplied $OH$ to the COGS account are made at the end of

each month.

Required:

Calculate the predetermined overhead rate.

Calculate the ending balance of materials inventory at the end of February $2024.$

Calculate the ending balance for Job $40,$ Job $41,$ and Job $42$ at the end of February

Calculate the WIP inventory balance at the end of February $2024.$

Determine the amount of over$/$underapplied overhead for February $2024.$

Calculate the reported gross profit for February $2024.$