QUESTION 6 Ray Mendinghouse Company employs a job order cost accounting system and keeps perpetual inventory records. The following transactions occurred in the first month of operations 1 Direct materials requisitioned during the month Job 21 $20,000 Job 22 16,000 Job 23 25.000 $61.000 2. Direct labor incurred and charged to jobs during the month was: Job 21 $33,000 Job 22 28.000 Job 23 21.000 $82.000 3 Manufacturing overhead was applied to jobs worked on using a predetermined overhead rate based on 60% of direct labor costs 4. Actual manufacturing overhead costs incurred during the month amounted to $54,000. 5 Job 21 consisting of 1,000 units and Job 23 consisting of 200 units were completed during the month Instructions (a) Prepare journal entries to record the above transactions. Hint: On you scratch paper, prepare a t-account for each job and post. (b) Answer the following questions: 1. How much manufacturing overhead was applied to Job 103 during the month? 2. Compute the total unit cost of Jobs 21and 23. What is the balance in Work In Process Inventory at the end of the month? Determine if manufacturing overhead was under-or over-applied during the month What is the amount of the over or under-applies? Show computation 4