Problem 2 - Job Order Nguyen Corporation uses job order costing and applies overhead on the bases of machine hours worked. For the just completed year, the company estimated that it would work 75,000 machine hours and incur $450,000 in manufacturing overhead cost. The company actually worked 80,000 machine-hours. The company has provided the following financial data concerning its actual operations for the year. Direct materials Indirect materials Direct labor Indirect labor Sales commissions Administrative salaries General selling expenses Factory utility costs Advertising costs Factory depreciation Selling and administrative depreciation Factory insurance Selling and administrative insurance Cost of goods sold (not adjusted for under or over application of overhead) Sales 360,000.00 24,000.00 75,000.00 110,000.00 90,000.00 200,000.00 17,000.00 43,000.00 180,000.00 280,000.00 73,000.00 7,000.00 3,000.00 870,000.00 1,525,000.00 Compute for the following: 9. Total applied manufacturing overhead for the year (6pts.) 10. Total actual manufacturing overhead for the year 11. Predetermined overhead rate 12. Total selling and administrative expenses (7 pts.) 13. Gross margin after adjustment 14. Net Operating Income