QUESTION II. 30 MARKS YourJobCoop uses a normal job-order costing system. Manufacturing overhead is applied monthly based on direct labour cost. The company estimates annual manufacturing overhead of $600,000 and annual direct labour hours costs of $400,000. The following table shows the relevant jobs and their processing status: Job ID Started Completed Job Al August 15 August 21 Job B2 Job C3 Not applicable Job D4 Not applicable Ordered July 17 July 20 July 28 August 10 July 18 August 2 August 9 August 22 Sold August 16 August 22 Not applicable Not applicable Please refer to the Excel worksheet "Q2 Data Set" to obtain information on the transactions that the accounting system recorded between July 18 and August 31. The company writes off any under- or over-applied overhead in the month in which it is incurred. YourJobCoop uses the cost of goods sold method. Tasks: Answer the following questions: a) What is the predetermined overhead rate? 3 marks b) How much direct labour incurred in August? 3 marks c) What are the manufacturing costs of Job Al as of August 1? 3 marks d) What are the manufacturing costs of Job C3 as of August 31? 3 marks *e) What is the work in process balance on August 1? 3 marks f) What is the work in process balance on August 31? 3 marks g) What is the amount of manufacturing overhead applied in August? 3 marks h) Was manufacturing overhead under- or over-applied in August? 1.5 marks i) By what amount was manufacturing overhead under-/over-applied in August? Only add the numerical value, do not add a "plus" or "minus" sign. 1.5 marks j) What is the unadjusted cost of goods sold in August? 3 marks k) What is the adjusted cost of goods sold in August? 3 marks

YourJobCoop uses a normal job-order costing system. Manufacturing overhead is applied monthly based on direct labour cost. The company estimates annual manufacturing overhead of $600,000 and annual direct labour hours costs of $400,000. The following table shows the relevant jobs and their processing status: Please refer to the Excel worksheet "Q2 Data Set" to obtain information on the transactions that the accounting system recorded between July 18 and August 31 . The company writes off any under- or over-applied overhead in the month in which it is incurred. YourJobCoop uses the cost of goods sold method. Tasks: Answer the following questions: a) What is the predetermined overhead rate? 3 marks b) How much direct labour incurred in August? 3 marks c) What are the manufacturing costs of Job Al as of August 1 ? 3 marks d) What are the manufacturing costs of Job C3 as of August 31 ? 3 marks e) What is the work in process balance on August 1 ? 3 marks f) What is the work in process balance on August 31 ? 3 marks g) What is the amount of manufacturing overhead applied in August? 3 marks h) Was manufacturing overhead under-or over-applied in August? 1.5 marks i) By what amount was manufacturing overhead under-/over-applied in August? Only add the numerical value, do not add a "plus" or "minus" sign. 1.5 marks j) What is the unadjusted cost of goods sold in August? 3 marks k) What is the adjusted cost of goods sold in August? 3 marks