Problem 3-55 Overhead Application Using a Predetermined Overhead Rate (LO 3-2, 3-4, 3-5, 3-6) [The following information applies to the questions displayed below.] Tiana Shar, the controller for Caesar Glassware Company, is in the process of analyzing the overhead costs for the month of November. She has gathered the following data for the month. Labor Direct-labor hours: Job 57 3,500 Job 58 3,000 Job 59 2,000 Labor costs: Direct-labor wages $ 212,500 Indirect-labor wages 16,000 Supervisory salaries 6,500 Material Inventories, November 1: Raw material and supplies $ 11,000 Work in process (job 57) 53,000 Finished goods 113,000 Purchases of raw material and supplies: Raw material $ 134,000 Supplies (indirect material) 15,000 Direct material and supplies requisitioned for production: Job 57 $ 45,000 Job 58 37,500 Job 59 25,500 Supplies (indirect material) 12,500 Total $ 120,500 Other Building occupancy costs (heat, light, depreciation, etc.) Factory facilities $ 6,400 Sales offices 1,600 Administrative offices 1,000 Total $ 9,000 Production equipment costs: Power $ $4,100 Repairs and maintenance 1,500 Depreciation 1,500 Other 1,000 Total $ 8,100 The firms job-order costing system uses direct-labor hours (measured at practical capacity) as the cost driver for overhead application. In December of the preceding year, Shar had prepared the following budget for direct-labor and manufacturing-overhead costs for the current year. The plant is theoretically capable of operating at 150,000 direct-labor hours per year. However, Shar estimates that the practical capacity is 120,000 hours in a typical year. Manufacturing Overhead Direct-Labor Hours Variable Fixed 100,000 $325,000 $216,000 120,000 391,200 216,000 140,000 454,000 216,000 During November the following jobs were completed: Job 57 10 oz. water glasses Job 58 5 oz. juice glasses Assist Shar by making the following calculations. References Section BreakProblem 3-55 Overhead Application Using a Predetermined Overhead Rate (LO 3-2, 3-4, 3-5, 3-6) 1.value: 0.55 pointsRequired information Problem 3-55 Part 1 Required: 1. Calculate the predetermined overhead rate for the current year. (Round your answer to 2 decimal places.) ReferenceseBook & Resources ProblemLearning Objective: 03-02 Diagram and explain the flow of costs through the manufacturing accounts used in product costing.Learning Objective: 03-06 Prepare a schedule of cost of goods manufactured, a schedule of cost of goods sold, and an income statement for a manufacturer. Problem 3-55 Part 1Learning Objective: 03-04 Compute a predetermined overhead rate and explain its use in job-order costing for job-shop and batch-production environments. Difficulty: HardLearning Objective: 03-05 Prepare journal entries to record the costs of direct material, direct labor, and manufacturing overhead in a job-order costing system. Check my work 2.value: 0.55 pointsRequired information Problem 3-55 Part 2 2. Calculate the total cost of Job 57. (Do not round your intermediate calculations. Round your final answer to the nearest dollar amount.) ReferenceseBook & Resources ProblemLearning Objective: 03-02 Diagram and explain the flow of costs through the manufacturing accounts used in product costing.Learning Objective: 03-06 Prepare a schedule of cost of goods manufactured, a schedule of cost of goods sold, and an income statement for a manufacturer. Problem 3-55 Part 2Learning Objective: 03-04 Compute a predetermined overhead rate and explain its use in job-order costing for job-shop and batch-production environments. Difficulty: HardLearning Objective: 03-05 Prepare journal entries to record the costs of direct material, direct labor, and manufacturing overhead in a job-order costing system. Check my work 3.value: 0.55 pointsRequired information Problem 3-55 Part 3 3. Compute the amount of manufacturing overhead applied to job 59 during November. (Do not round your intermediate calculations. Round your final answer to the nearest dollar amount.) ReferenceseBook & Resources ProblemLearning Objective: 03-02 Diagram and explain the flow of costs through the manufacturing accounts used in product costing.Learning Objective: 03-06 Prepare a schedule of cost of goods manufactured, a schedule of cost of goods sold, and an income statement for a manufacturer. Problem 3-55 Part 3Learning Objective: 03-04 Compute a predetermined overhead rate and explain its use in job-order costing for job-shop and batch-production environments. Difficulty: HardLearning Objective: 03-05 Prepare journal entries to record the costs of direct material, direct labor, and manufacturing overhead in a job-order costing system. Check my work 4.value: 0.55 pointsRequired information Problem 3-55 Part 4 4. What was the total amount of manufacturing overhead applied during November? (Do not round your intermediate calculations. Round your final answer to the nearest dollar amount.) ReferenceseBook & Resources ProblemLearning Objective: 03-02 Diagram and explain the flow of costs through the manufacturing accounts used in product costing.Learning Objective: 03-06 Prepare a schedule of cost of goods manufactured, a schedule of cost of goods sold, and an income statement for a manufacturer. Problem 3-55 Part 4Learning Objective: 03-04 Compute a predetermined overhead rate and explain its use in job-order costing for job-shop and batch-production environments. Difficulty: HardLearning Objective: 03-05 Prepare journal entries to record the costs of direct material, direct labor, and manufacturing overhead in a job-order costing system. Check my work 5.value: 0.55 pointsRequired information Problem 3-55 Part 5 5. Compute the actual manufacturing overhead incurred during November. ReferenceseBook & Resources ProblemLearning Objective: 03-02 Diagram and explain the flow of costs through the manufacturing accounts used in product costing.Learning Objective: 03-06 Prepare a schedule of cost of goods manufactured, a schedule of cost of goods sold, and an income statement for a manufacturer. Problem 3-55 Part 5Learning Objective: 03-04 Compute a predetermined overhead rate and explain its use in job-order costing for job-shop and batch-production environments. Difficulty: HardLearning Objective: 03-05 Prepare journal entries to record the costs of direct material, direct labor, and manufacturing overhead in a job-order costing system. Check my work 6.value: 0.55 pointsRequired information Problem 3-55 Part 6 6. Calculate the overapplied or underapplied overhead for November. (Do not round your intermediate calculations. Round your final answer to the nearest dollar amount.)