Problem 3-5 points at the beginning of the year follows: Selected information from the budget of the Khalid or Estimated factory overhead $132,000 Estimated direct labor hours 55.000 hours Estimated machine hours 41.250 hours Estimated direct labor cost $825,000 Actual factory overhead incurred during the year $144,000 Calculate the predetermined overhead allocation rate if the company uses the following as a basis (a) Direct labor hours. (b) Direct labor cost. (c) Machine hours. Problem 15 points Assembly Department uses a process cost accounting system and a weighted average cost flow assumption. The department adds materials at the beginning of the process and Incurs conversion costs uniformly throughout the process. During July, $190,000 of materials costs and $135,500 in conversion costs were charged to the department. The beginning work in process inventory was $93,000 on July 1. comprised of $80,000 of materials costs and $13,000 of conversion costs. charged the process. During Just the beginning of the and a weighted av 25,000 units 90,000 units 30,000 units (40% complete) (30% complete) Other data for the month of July are as follows: Beginning work in process inventory, 7/1 Units completed and transferred out Ending work in process inventory, 7/31 Instructions Answer the following questions and show computations to support your answers. 1. How many physical units have to be accounted for in July? 2. What are the equivalent units of production for materials and for conversion costs for the month of July? 3. What is the total cost assigned to the 90,000 units that were transferred out of the process in July? 4. What is the remaining total cost of inventory within the Assembly department as of July 31? Problem Solving: Problem 1-10 points Use the following information to prepare the manufacturing statement for Forsythe Company for the month ended June 30: Goods in process inventory, May 31 S12,600 Goods in process inventory, June 30 16,500 Direct materials used during June 21,000 Direct labor used during June 31,000 Factory overhead: Indirect material 6,400 Indirect labor 9.200 Factory rent 12,000 Factory depreciation 15,000 Factory utilities 18,400