QUESTION 12 Mountain Peaks applies overhead on the basis of machine hours and reports the following information: Budget Actual Overhead $330,000 $335,000 Machine hours 55,000 57,000 Direct materials $215,000 Direct labor $360,000 Round answers to the nearest whole dollar amount. Do not enter dollar signs. What is the predetermined overhead rate? 6 How much overhead was applied during the year? 6 Was overhead overapplied or underapplied? By what amount? QUESTION 9 Job January March February $1,200 $2,300 $4,862 (AA2 AAA AAS ) Completed February January February April Sold Not Sold February March Not Sold $3.210 $3,393 $2.338 What are the balances in the work in process inventory, finished goods Inventory, and cost of goods sold for January, February, and March? Work in Process Finished Goods Cost of Goods Sold January February March QUESTION 20 Prepare a journal entry for each transaction Be sure to use proper account titles, spelled correctly Proper account titles include: Raw Materials Inventory, Work in Process Inventory, Finished Goods Inventory, Cost of Goods Sold, Accounts Payable, Accounts Receivable, Manufacturing Overhead, Factory Wages Payable, Factory Wages Expense, Accumulated Depreciation, Depreciation Expense Supplies. Utilities Expense, Utilities Payable, Cash, Sales, etc. Be sure to use proper capitalization as well. Do not enter dollar signs H Manufacturing overhead applied as 4 of direct labor 250% H. 750 750 QUESTION 21 1 pe Prepare a journal entry for each transaction. Be sure to use proper account titles, spelled correctly, Proper account titles include: Raw Materials Inventory, Work in Process Inventory. Finished Goods Inventory. Cost of Goods Sold, Accounts Payable, Accounts Receivable, Manufacturing Overhead. Factory Wages Payable.Factory Wages Expense. Accumulated Depreciation. Depreciation Expense Supplies. Utilities Expense, Udes Payable, Cash Sales, etc. Be sure to use proper capitalization as well. Do not enter dollar signs 1. Job 1 is transferred to finished goods QUESTION 22 Prepare a journal entry for each transaction. Be sure to use proper account titles, spelled correctly. Proper account titles include: Raw Materials inventory, Work in Process Inventory, Finished Goods Inventory. Cost of Goods Sold, Accounts Payable, Accounts Receivable, Manufacturing Overhead, Factory Wages Payable, Factory Wages Expense, Accumulated Depreciation, Depreciation Expense, Supplies, Utilities Expense, Utilities Payable, Cash, Sales, etc. Be sure to use proper capitalization as well. Do not enter dollar signs Job 1 is sold on account $2.900 Record the cost first, then the revenue